Treasury Committee urges Government to publish coronavirus business loans updates more frequently
22 September 2020
The Treasury Committee has previously requested frequent updates on some of the Government’s coronavirus business loan schemes, including the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme.
From May, the Government was publishing updates weekly. It has since moved to monthly updates, with today’s update the first since 16 August.
Rt Hon. Mel Stride MP, Chair of the Treasury Committee, has written to Rt Hon. Rishi Sunak MP, Chancellor of the Exchequer, to request that the Government return to publishing updates on a weekly basis.
Commenting on the correspondence, Mr Stride said:
“At a crucial time for the health of the economy, as well as individuals, information on the take-up of coronavirus business loan schemes will give us an indication of how businesses are faring.
“By moving from a weekly to a monthly publication, it may be too late to see if the Government is targeting its resources wisely. The Government should return to a weekly publication.”
Image: PA/Johnny Green