Source · Select Committees · Treasury Committee
Recommendation 14
14
Acknowledged
Introduce new regulations on business debanking transparency before the parliamentary summer recess.
Conclusion
We welcome the Treasury’s proposed rules changes on debanking, which will provide a greater deal of transparency to customers who suffer from an account closure. HM Treasury should introduce these regulations before the parliamentary summer recess,
Government response summary AI-generated
The government expresses a general commitment to ensuring SMEs have appropriate access to redress and proportionate regulation, but does not specify action to introduce the proposed debanking regulations before the parliamentary summer recess.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Acknowledged
HM Government · verbatim extract
Acknowledged
26. The Government agrees with the Committee that the British Business Bank (BBB) plays an important role in providing support for SMEs. We will work with the BBB to improve the access to finance landscape for SMEs, stimulating supply and demand through targeted interventions. We plan to build on the work the BBB has done to date as it strives to create the opportunity for smaller businesses to invest and grow, generating additional jobs and elevated economic activity.
Read the full response on Parliament ↗