Source · Select Committees · Treasury Committee
Recommendation 22
22
Deferred
Unfair use of personal guarantees constrains growth and investment for SMEs.
Conclusion
Unfair use of personal guarantees has the potential to constrain growth and investment for SMEs, particularly the smallest businesses. We welcome HM Treasury’s review on this matter, and look forward to seeing what it will do to ease the burden on the smallest businesses. (Paragraph 113) SME Finance 39
Government response summary AI-generated
The government completely changed the subject, welcoming the FCA's work on bank account rejections and closures and generally discussing access to banking services, instead of addressing the recommendation about personal guarantees for SMEs.
Summary of the government's response below — read the verbatim text to verify.
Government Response
Deferred
HM Government · verbatim extract
Deferred
39. Since the Committee’s report was published, Treasury officials have been in dialogue with various stakeholders about the use of personal guarantees to try and better understand market practice.
Read the full response on Parliament ↗