Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effect of the Pay As You Grow scheme on loss rates from the Bounce Back Loan Scheme.

The Pay As You Grow measures give Bounce Back Loan borrowers more time and greater flexibility to repay their loans.

Work is currently underway with data scientists, other Government departments and external consultants on a range of projects to develop our analysis on various datasets, in order to give us the best possible insight into the scheme.

The Department will report updated estimates of expected credit losses as part of its Annual Report and Accounts for 2020-21, to be published later this year.