Written Question·Department for Business and Trade·UIN 8139
Small Businesses: Interest Rates
Tabled: 9 October 2024
Answered: 5 November 2024
Question
Jim Shannon
Democratic Unionist Party — Strangford
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of trends in the level of interest rates on SMEs.
Answer
Gareth ThomasFor SMEs that pay interest at a variable rate, or those contemplating new borrowing, lower interest rates are clearly beneficial.