Recommendation 22

It is unacceptable that SMEs working to deliver the UK’s national security objectives are being denied access to financial services through so-called ‘debanking’. The UK Government should assess the impact of this practice on Scotland’s defence industry and engage with the financial services sector to end this practice, which is damaging to the UK’s national security objectives, SME growth, and the provision of highly-skilled jobs in Scotland’s defence sector. The Scotland Office should report back to the Committee within six months on the findings of this work and the actions taken in response. (Recommendation, Paragraph 106) 43