Commenting on the announcement of the extension of the Funding for Lending Scheme, Adam Marshall, Executive Director of Policy at the British Chambers of Commerce (BCC), said:

“Extending the Funding for Lending Scheme will reassure many businesses – particularly those that continue to struggle to get the finance they need to grow.

“However the scheme in itself is not a magic bullet. It is imperative that the British Business Bank is fully scaled-up at the same time, to support the ambitions of our future wealth creators and the long-term success of home-grown companies.”