Thursday 30 July 2020 / 12:01 AM Business

Coronavirus loans open to businesses ‘in difficulty’ – Ed Miliband responds

Ed Miliband MP, Labour’s Shadow Business, Energy and Industrial Strategy Secretary, responding to reports that Coronavirus loans open to businesses ‘in difficulty’, said:

“Any help in breaking down the obstacles to loans is welcome but this has all taken far too long with too many businesses left out in the cold. Time will tell whether this sorts out the growing backlog of CBILs loans.

“There also remain serious, unaddressed problems of loans for larger firms, CBILs,  and growing evidence of firms being shut out of bounce back loans unless they are an existing customer of a major high street bank.

“Every week that passes with these problems being allowed to continue puts at risk the future of businesses, the livelihoods of workers and the strength of our economy.”