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28 February 2024 - SME Finance - Oral evidence

Committee Treasury Committee
Inquiry SME Finance

Wednesday 28 February 2024

Start times: 2:00pm (private) 2:15pm (public)

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City Minister to face questions on support for SMEs in need of finance

The Treasury Committee questions Economic Secretary to the Treasury, Bim Afolami, in the final session of its inquiry into access to financing for small and medium-sized businesses.

Over the course of the inquiry, the Committee has heard about the challenges SMEs face when dealing with lenders – so it is likely members will want to press Mr Afolami on the extent to which the government is effectively supporting small businesses when they encounter problems accessing capital. 

Meeting details

At 2:15pm: Oral evidence
Inquiry SME Finance
Economic Secretary to the Treasury at HM Treasury
Deputy Director, Banking and Credit at HM Treasury

Members of the Committee may choose to ask for the government’s view on the ‘de-banking' of small businesses, including whether it believes SMEs need to be better protected from account closures through legislation.

MPs may also choose to ask Mr Afolami what steps the government is taking to address the fact the approval rate for SMEs applying for capital from banks has dropped from 80% to 50% since 2018.

The Committee could ask for the minister’s view on market changes such as regulatory reform and the closure of the BBRS, and whether government action has made life easier or harder for small businesses.

In previous oral evidence sessions, MPs have questioned financing experts, industry groups, regulators and public bodies to get a broad view on whether UK SMEs are receiving the support they need to access a variety of lending options.   



The Grimond Room, Portcullis House

How to attend