Following the winter statement by Rishi Sunak, Chancellor of the Exchequer Miles Celic, Chief Executive Officer, TheCityUK, said,

The government’s additional package of support is essential to sustaining SMEs and jobs across the country. We are pleased the Chancellor has taken action to address the significant and urgent debt challenge facing SMEs highlighted by our recapitalisation group. By extending further relief to those SMEs with government-guaranteed loans, the government will help to preserve many viable firms, allowing them the chance to return to growth after the pandemic has passed. Matching repayments to the ability of companies to recover demonstrates that government has listened to the advice of industry and business groups who are working closely with companies across the UK economy.

“Looking further ahead, we urge the government to give further thought to how to unlock greater equity investment in the UK’s SMEs across the country, vital for powering a strong and sustainable recovery.