SNP lead cross-party campaign to ‘fix’ controversial loan scheme so SMEs benefit
My cross-party campaign to press Chancellor to close gaps in his business interruption CBILS provision has been backed by 46 MPs from 7 parties across the House of Commons, representing constituencies in Scotland, England, Northern Ireland and Wales.
The availability of financial support is vital for businesses at this challenging time, but the current scheme inexplicably does not include rotating finance from most of the bigger banks, who are naturally likely to be the banks used by most of our SMEs. The sustainability of our local businesses and the employment they provide will be key to moving forward in due course. They must not be allowed to fall through the gaps in the CBILS provision.
It is vital that this issue is progressed urgently to support our SMEs, and I will continue to press the Chancellor to do so.