Lord Mandelson claims that the measures implemented by the UK Government has been decisive to save many businesses from closure.
The Telegraph reported the Business Secretary saying that so far HM Revenue and Customs has deferred 170,000 individual business taxes, worth over £3bn, while some 3,700 businesses have been offered more than £360m in guaranteed loans out of the £1.3bn set aside for the scheme.
The support, if proved to work over time, could represents the basis of a new multi-billion pound programme seeing the government to provide risk and debt capital and featuring an expanded business loan guarantee scheme to help companies with few assets to access financial resources from high-street banks.
FinSMEs
15/08/2009