Lord Cotter – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Cotter on 2015-11-23.

To ask Her Majesty’s Government how they plan to implement the Small Business Enterprise and Employment Act 2015’s mandatory referral scheme.

Lord O’Neill of Gatley

The referral scheme is not yet up and running but the Government is committed to delivering this policy which will help small and medium sized enterprises access the finance they need to grow and expand.

Since the Government announced the Finance Platform policy it has consulted, passed primary legislation and is now close to making secondary legislation.

The British Business Bank is currently undertaking a due diligence process on Finance Platforms that have expressed an interest in becoming designated and will advise HM Treasury on designation in the Spring; with the policy expected to ‘go live’ later in 2016.