Lord Barnett – 2014 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Barnett on 2014-04-09.

To ask Her Majesty’s Government what assessment they have made of the average interest rate charged to small and medium-sized enterprises by United Kingdom banks.

Lord Deighton

The Government is committed to supporting small and medium sized businesses and recognises their importance to the economy. Since 2010, the Government has introduced a number of schemes aimed at improving access to finance for businesses, including the creation of the British Business Bank and the introduction of the joint Government and Bank of England Funding for Lending Scheme.

Decisions about whether to lend to specific individuals or businesses including the rate of interest charged, remain commercial decisions for banks and building societies.