Russell George AM – the Shadow Business and Economy Minister – has welcomed the Chancellor's announcement of "Bounce Back Loans" for business.
Mr George said:
"Rishi Sunak MP, the Chancellor of the Exchequer, has given a welcome boost to businesses requiring smaller loans of up to £50,000 or 25 percent of turnover.
"As we know, as the pandemic and the lockdown continue, many businesses will be looking for ways to see them through some lean times, and the Chancellor – who said that the UK Government will pay the interest for the first 12 months – has provided this lifeline."