| Heading: |
Small Businesses: Loans |
| Question ID: |
1802981 |
| UIN: |
52449 |
| House: |
Commons |
| Date tabled: |
2025-05-14 |
| Asking Member ID: |
5193 |
| Asking Member display name: |
Callum Anderson
|
| Asking Member handle: |
_CallumAnderson
|
| Asking Member Twitter reference: |
@_CallumAnderson
|
| Member interest: |
false |
| Question text: |
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of trends in the level of tiered lending rate structures in SME finance products offered by UK-regulated banks since 2022. |
| Is named day: |
false |
| Date of holding answer: |
|
| Date answered: |
2025-06-02 |
| Date answer corrected: |
|
| Is holding answer: |
false |
| Is correcting answer: |
false |
| Answering Member ID: |
177 |
| Answering Member display name: |
Gareth Thomas
|
| Answering Member handle: |
GarethThomasMP
|
| Answering Member Twitter reference: |
@GarethThomasMP
|
| Correcting Member ID: |
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| Correcting Member display name: |
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| Correcting Member handle: |
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| Correcting Member Twitter reference: |
|
| Answer text: |
Tiered interest rates relate to retail deposits and personal loans, not commercial finance. Bank of England data shows that interest rates on lending by banks to UK SMEs are as follows:In March 2025, effective interest rates for new SME loans were 6.75%In... |
| Original answer text: |
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| Comparable answer text: |
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| Answering body ID: |
214 |
| Answering body name: |
Department for Business and Trade |
| Tweeted: |
true |