§ 55. Mr. Patrick McNair-Wilsonasked the Secretary of State for Trade and Industry how many loans have been provided to small businesses under the guaranteed loans scheme since it was introduced; in how many instances recipients have been unable to repay; and what has been the cost to the Exchequer.
§ Mr. TebbitProvisional figures show that at 31 October 1983 my Department had issued 12,648 guarantees in respect of £416.7 million of bank lending. Over the same period, 1,329 claims from the banks under the guarantee arrangements were paid, amounting to £34.7 million. Against this there were receipts of about £8.5 million from premium income and recoveries. However, these figures take no account of the wider economic benefits of the scheme.