Loans: Small Businesses

(asked on 15th October 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans he has to extend the Term Funding Scheme to non-bank lenders to improve alternative financing options.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 22nd October 2021

The Term Funding Scheme (TFS) is a monetary policy tool of the independent Monetary Policy Committee (MPC) of the Bank of England. Therefore, it is not appropriate for the Government to comment on its conduct or effectiveness.

The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy.

We will continue to work with non-bank lenders to support their participation in the new Recovery Loan scheme following the closure of the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), and the Bounce Back Loan Scheme (BBLS).

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