Bridget Phillipson MP, Labour’s Shadow Chief Secretary to the Treasury, responding to news that just 2,022 Coronavirus business loans have been approved so far, said:

“With so many businesses struggling during this crisis, the Government needs to ensure they can access the financial support they need.

“Labour will work with the Government to make the improvements needed to ensure support is being given to businesses swiftly. Ministers must also provide regular updates on the number of applications and approvals to provide assurances that funds are actually getting to firms.”