Government loan scheme changes “miss the crucial problem”
Acting Leader of the Liberal Democrats Ed Davey will argue the Chancellor's latest changes to the Coronavirus Business Interruption Loans Scheme still rely too much on traditional lenders, and will call on the Government and the British Business Bank to fast track cash to desperate businesses by opening the scheme to new lenders including the UK's growing Fin Tech industry. Acting Leader of the Liberal Democrats Ed Davey said: “Although the Chancellor's loan scheme is well-intentioned, it was badly designed from the start and the latest changes don't address the fundamental flaw in terms of the over-reliance on traditional lenders. “Despite huge handouts in the 2008 financial crisis, the big banks have shown themselves institutionally incapable of serving the needs of Britain's small and medium sized businesses, at the speed this crisis demands. The Chancellor…
