To ask Her Majesty’s Government what assessment they have made of the impact on the cashflow of small and medium-sized companies of banks quarantining internet transfers of cash on the grounds of security.
My Lords, the UK is recognised as having a world-leading system for combating economic crime, creating a secure and transparent business environment. In response to the disruption caused by Covid-19, the Government have taken unprecedented steps to support business cash flow, including the Coronavirus Business Interruption Loan Scheme and the bounce-back loan scheme. These are helping to support small businesses suffering temporary cash-flow issues by providing the finance they need to get through this challenging period.
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