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Responding to the final data from the government-backed lending schemes published by HM Treasury today, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said:
Throughout the pandemic the banking and finance industry has provided an unprecedented level of support to businesses of all sizes across the length and breadth of the country. This includes nearly £80 billion worth of lending through the government-backed loan schemes, distributed geographically in proportion to UK economic activity and to sectors most in need of support. This is alongside other measures such as overdraft extensions and capital repayment holidays. ?With the country starting to unlock in the coming weeks, we know that many firms are still facing uncertainty and the industry will continue to stand behind businesses and support them through the economic recovery.
Throughout the pandemic the banking and finance industry has provided an unprecedented level of support to businesses of all sizes across the length and breadth of the country. This includes nearly £80 billion worth of lending through the government-backed loan schemes, distributed geographically in proportion to UK economic activity and to sectors most in need of support. This is alongside other measures such as overdraft extensions and capital repayment holidays.
?With the country starting to unlock in the coming weeks, we know that many firms are still facing uncertainty and the industry will continue to stand behind businesses and support them through the economic recovery.
UK Finance Press Office 020 7416 6750press@ukfinance.org.uk
26.04.24
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