§ 25. Mr. Beithasked the Secretary of State for Industry what is the range of interest rates charged by banks participating in the loan guarantee scheme.
§ Mr. MacGregorThe rate of interest to be applied to loans under the scheme is a matter for the commercial judgment of the lender. It will reflect the reduction in risk resulting from the Government's guarantee.
§ 28. Mr. Geraint Howellsasked the Secretary of State for Industry what representations he has received about the interest rates charged by banks participating in the loan guarantee scheme.
§ Mr. MacGregorI am aware that a number of representations have been made to the press and elsewhere but interest rates are a matter for each participating bank.
§ Mr. Mylesasked the Secretary of State for Industry if he will make a statement on reactions he has received to the loan guarantee scheme.
§ Sir Keith JosephThe scheme has been widely welcomed by small businesses.