HC Deb 13 July 1995 vol 263 cc748-9W
Sir Michael Shersby

To ask the President of the Board of Trade what has been the effect of changes to the loan guarantee scheme announced since 1992. [32576]

Mr. Page

Since the changes that took place in April 1993 and July 1993, lending under the scheme has increased considerably.

In the financial year to 31 March 1994, 3,886 scheme loans were guaranteed at a value of £155 million compared to 2,342 loans at a value of £52 million in the previous year. In the year to 31 March 1995, 6,207 loans were guaranteed to a value of £246 million. This represents the highest level of lending since the scheme began in 1981.

We are currently guaranteeing over 600 loans a month.