Written questions by Thomas.

Whether she has received representations on the cost of lending required by (a) Maxcap business loans, (b) Capify business loans and (c) Funding Circle’s Flexipay product.

The Government receives representations from a range of stakeholders about matters across financial services and the economy. Disputes are a matter for the Financial Ombudsman Service rather than the Government. I would refer my honourable friend to the answers I provided on the topic of SME lending on 24 November, 26 November and 27 November, including in relation to the rates for short-term lending to small and medium sized businesses in the UK. As set out in my previous response, interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial offerings, and SMEs should shop around to find the product that best suits their needs when choosing finance, which in turn helps drive competition, improves choice, and may support pricing.

What estimate she has made of the number of of small business finance applications rejected by (a) high street banks and (b) all banks in (i) total and (ii) just for non asset backed lending applications in the most recent year for which figures are available.

The Government, and specifically the Treasury, is responsible for the legislative framework for financial services, and does not collect significant volumes of market data. External bodies including the British Business Bank, Bank of England, UK Finance, and other such parties, produce certain information on the SME lending market, some of which may offer insights of this nature. However, HM Treasury publishes statistics on the use of the Government’s Bank Referral Scheme on an annual basis, which is a Scheme designed to help match loan applicants rejected for finance with potential alternatives. The latest release covers statistics up until Q3 2024 and can be found on the Government’s website. This data represents businesses that have been rejected by designated banks under the Scheme and can be used to understand some of the rejection rate trends in the market.

What further steps she will take to make the cost of business loans more transparent.

The Government receives representations from a range of stakeholders about matters across financial services and the economy. Disputes are a matter for the Financial Ombudsman Service rather than the Government. I would refer my honourable friend to the answers I provided on the topic of SME lending on 24 November, 26 November and 27 November, including in relation to the rates for short-term lending to small and medium sized businesses in the UK. As set out in my previous response, interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial offerings, and SMEs should shop around to find the product that best suits their needs when choosing finance, which in turn helps drive competition, improves choice, and may support pricing.

What further steps he will take to help small businesses take advantage of the UK's trade deals.

Our department is helping businesses take advantage of trade deals through engagement, guidance, and practical support. Events to promote understanding of FTAs have been held in all parts of the UK this year, including during International Trade Week.Guides to ensure business have clear advice on taking advantage of FTAs have been published on recent FTAs, and are being prepared for the UK-India FTA. SMEs can also access support on FTAs through the new Business Growth Service.The Government’s Plan for Small Businesses strengthens the business environment, improves finance access, creates growth opportunities, and boosts SME competitiveness across the UK.

Pursuant to the answer of 1 December 2025 to Question 93633, if he will publish that assessment.

To protect negotiation-sensitive information the Department for Business and Trade will not be publishing a full assessment of the potential economic impact of mutual recognition agreements on conformity assessment between the UK and EU. This Government remains committed to tackling barriers to trade with the EU, addressing areas of mutual benefit to both the UK and EU.

Communities and Local Government, with reference to the findings of Independent Commission on Neighbourhoods, whether he will take steps to encourage private sector growth in the most deprived neighbourhoods in England.

Strong neighbourhoods and communities are vital to drive growth. The Pride in Place strategy sets out how we will deliver up to £5 billion funding and support over ten years to 339 neighbourhoods experiencing the highest levels of double deprivation. Neighbourhood Boards will have a wide range of options available to them to improve local opportunities and promote growth in their communities. Furthermore, we strongly encourage the boards to build partnerships with philanthropists and businesses that are rooted in place, to help build more sustainable funding models and crowd in more capital over the long-term. This will build strong, vibrant local communities and economies, led by those who know their area best.

Media and Sport, if she will take steps with the Secretary of State for Business and Trade on improving access to finance for the video games industry.

The Government is committed to making the UK the best place in the world to produce video games. We recognise the high growth potential of the sector, and are committed to improving its access to finance. This is why, as part of the Creative Industries Sector Plan, we have committed £30 million over the next three years for the Games Growth Package, which includes a significant expansion of the UK Games Fund which will continue to provide grants to early-stage studios across the UK to develop prototypes and new intellectual property, and run development programmes for new graduates.The tax reliefs offered to video games companies continue to make the UK one of the best places in the world to make video games. Our Video Games Expenditure Credit ensures that this highly skilled and innovative industry is able to thrive and the government will continue to work with stakeholders to ensure its continued effectiveness. Also outlined in the Creative Industries Sector Plan was a significant increase in support from the British Business Bank (BBB) and UK Research and Innovation (UKRI). The BBB is committing an additional £4 billion of Industrial Strategy Growth Capital to support investment and growth in the eight priority Industrial Strategy sectors, including the creative industries, while UKRI will lead efforts to significantly increase public funding for the creative sectors, including support for commercialisation and tech adoption.

If she will make an assessment of the potential impact of proposed changes to EU customs arrangements on UK businesses.

On 17 May 2023, the European Commission proposed a revision of the Union Customs Code. The proposal is still subject to EU internal procedures; therefore, we cannot comment on the final proposal. However, we are following these suggested reforms closely, and continue to engage with the EU and business, particularly on potential impacts for UK businesses

Whether she will make an assessment of the potential merits of negotiating improved business travel mobility arrangements with the EU.

I refer the hon. Member to the answer I gave on 1st December to question 93634 (Written questions and answers - Written questions, answers and statements - UK Parliament).Improved business travel mobility arrangements with the EU would benefit individuals and businesses in both the UK and EU, likely increasing trade between us and the EU and increasing our GDP over time. The UK government is committed to supporting UK businesses to trade more easily with our biggest trading partner, the EU.

How many complaints the a) Financial Ombudsman Service, b) Financial Conduct Authority and c) Prudential Regulation Authority received about i) the cost of loans to SMEs, ii) debt recovery behaviour by those offering to lend to SMEs and iii) fees charged by lenders when lending to SMEs in each of the last three years for which data is available.

I refer my honourable friend to the answers I provided on the topic of SME lending on 23 October. Complaints are the remit of the Financial Ombudsman Service (FOS), which publishes regular data on complaint trends. In its latest quarterly report, it noted that complaints about unaffordable lending had halved, though this figure does not distinguish between household and business credit, and complaint patterns can fluctuate each quarter. Over the past five years, credit card complaints have consistently ranked among the top five issues, while business lending has generated relatively few FOS disputes compared to personal and household credit.The Bank of England’s ‘Bankstats’ data tracks business and household credit, including average interest rates for SMEs. As of 31 August 2025, the average rate for new SME loans from UK banks is 6.35%, reflecting a decline in line with base rate reductions.

If he will make an assessment of the potential merits of negotiating improved business travel mobility arrangements with the European Union.

Improved business travel mobility arrangements with the EU would benefit individuals and businesses in both the UK and EU, likely increasing trade between us and the EU and increasing our GDP over time. The UK government is committed to supporting UK businesses to trade more easily with our biggest trading partner, the EU.

How many complaints the British Business Bank received about a) the cost of loans to SMEs, b) debt recovery behaviour by people offering to lend to SMEs and c) fees charged by lenders when lending to SMEs in each of the last three years for which data is available.

Where the British Business Bank receives complaints about lenders' actions on debt recovery, cost of lending and fees charged by lenders, these are referred to the relevant lender. While all complaints are logged, the current system does not include a specific category for debt-recovery-related issues. No fees were charged under the COVID-19 loan schemes, and there are no fees for Start Up Loans other than interest payments.

If he will make an assessment of the potential impact of UK and EU conformity assessment alignment on the economy.

We are aware that UK and EU stakeholders have highlighted that conformity assessment barriers negatively impact their ability to trade since the UK left the EU. Ahead of the UK-EU summit in May 2025 we explored a number of proposals with our EU partners on manufactured goods. To inform these discussions the government assessed the potential economic impact of a range of measures, including a mutual recognition agreement on conformity assessment, which indicated that such an agreement would be mutually beneficial for both the UK and EU. What was announced at the UK-EU summit reflects the outcome of the discussions.

How many complaints her Department has received on the cost of loans offered by IWOCA to small and medium sized businesses.

I refer my honourable friend to the answers I provided on the topic of SME lending on 23 October, and more recently in relation to the rate of short-term lending to small and medium sized businesses in the UK. Interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial decisions, and SMEs should should shop around to find the product that best suits their needs when choosing finance, which in turn helps drives competition, improves choice, and may support pricing. More widely, case complaints are a matter for the Financial Ombudsman Service rather than the Government, where the Treasury receives correspondence across a wide variety of subjects including financial services. While we are not able to measure the number of complaints the department receives in relation to high-cost credit for business loans (or in relation to an individual provider), the volume of correspondence on the cost of credit in relation to business loans, is generally low.

Whether he will make an assessment of the potential benefits of the mutual recognition of professional qualifications by the UK and European Union.

DBT is continually assessing benefits of opportunities to improve recognition of professional qualifications with the EU. Improvements would reduce market access barriers, address skills gaps, and promote growth.The UK Government is committed to improving recognition of professional qualifications with the EU. At the 2025 UK-EU Summit we agreed to establish dedicated dialogues with the Commission on the relevant provisions in the Trade and Cooperation Agreement. HMG is encouraging and supporting UK regulators to work with their EU counterparts, including through guidance and targeted funding.

Whether she has had discussions with the Secretary of State for Business and Trade on the cost of business loans offered by IWOCA.

I refer my honourable friend to the answers I provided on the topic of SME lending on 23 October, and more recently in relation to the rate of short-term lending to small and medium sized businesses in the UK. Interest rates, including those offered by individual providers, are a commercial matter decided by the lender concerned, reflecting the base rate, the risk of the applicant, and a margin to make the loan commercially viable given the cost of underwriting and broader funding costs. The Government does not intervene in commercial decisions, and SMEs should should shop around to find the product that best suits their needs when choosing finance, which in turn helps drives competition, improves choice, and may support pricing. More widely, case complaints are a matter for the Financial Ombudsman Service rather than the Government, where the Treasury receives correspondence across a wide variety of subjects including financial services. While we are not able to measure the number of complaints the department receives in relation to high-cost credit for business loans (or in relation to an individual provider), the volume of correspondence on the cost of credit in relation to business loans, is generally low.

If she will meet with representatives of the UK chemical industry to discuss an estimate of the potential cost of being out of the Single Market.

Government Ministers regularly meet with businesses and business representation organisations from a range of sectors, including the chemical sector. They remain open to further engagement with the sector including on ways to bolster growth, trade and investment.

Media and Sport, whether she has had discussions with the International Olympic Committee on the inclusion of netball in the Olympic Games.

I have not had discussions with the International Olympic Committee (IOC) about the inclusion of netball, or any other sport, in the Olympic Games. The Olympic sports programme is determined by the IOC. The British Olympic Association, as the National Organising Committee for Great Britain and Northern Ireland, is the domestic representative to the IOC and does so operating independently of the Government.

How many cases of trustee mismanagement of asset protection trusts were investigated by his Department in each of the last three years.

The trustees of a trust hold assets for the benefit of others (the beneficiaries of the trust) under the terms of the trust document.The general law of trusts enables the beneficiaries of a trust to hold the trustees to account to the extent permitted by the trust instrument or in legislation. In appropriate cases, it may be possible for the beneficiaries to have the trustees removed and replaced.The decision as to whether to take action against the trustees is, in the absence of a crime, for the beneficiaries affected, and disputes are determined by the courts rather than investigated by Government.

How many cases of alleged trustee mismanagement of asset protection trusts were recorded in the last three years by Action Fraud in a) Scotland b) London c) Suffolk and d) In total.

The capturing of fraud reports is recorded in line with the Home Office Crime Counting Rules for fraud, which breaks fraud down into a range of codes. The information requested does not currently align to the crimes recorded in the Action Fraud data set.The Home Office is working with City of London Police to replace Action Fraud with a new and improved national police reporting service for fraud and cybercrime. The new service will include capabilities to better track threat trends and enhanced search features for the report database.