Source · Select Committees · Treasury Committee
Recommendation 1
1
Not Addressed
Paragraph: 23
Although the Government has emphasised the need for a “green” recovery, we note it has...
Recommendation
Although the Government has emphasised the need for a “green” recovery, we note it has not, except in limited circumstances, imposed green conditionality on the support it has provided during the coronavirus pandemic. Whilst it is clear that support schemes were required to be provided without delay the Treasury should set out why it did not include green conditionality for the Recovery Loan Scheme announced in the 2021 Budget.
Government response summary AI-generated
The government's response discusses the issuance of green bonds and gilts, but does not address the recommendation to explain why green conditionality was not included in the Recovery Loan Scheme.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
23
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
The Recovery Loan Scheme (RLS), announced at Budget 2021, ensures that lenders continue to have the confidence to lend, and that viable businesses continue to have access to Government-backed finance throughout 2021. The scheme operates UK-wide and provides an 80% guarantee to lenders for term loans, overdrafts, and invoice and asset finance. Given the objective of the scheme to ensure continued access to finance for viable businesses it was important that businesses from all sectors and regions are eligible to access support through the scheme, rather than only businesses involved in the green recovery.
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