On 12 December 2024, the Government published its response to the Treasury Committee report on access to financing for small businesses.

The report, which was published in May 2024, made recommendations related to de-banking and the Business Banking Resolution Service. It was the conclusion of work carried out by previous members of the Treasury Committee during the last parliament.

In its response, the Government welcomes the report and notes that it recognises the crucial role SMEs play in driving economic growth. It confirms that it is committed to ensuring they have access to the finance and services they need.

The Government then goes on to respond to various aspects of the report including in relation to:

• Basel 3.1 and the SME supporting factor.
• Dispute resolution.
• Business de-banking.
• The role of the British Business Bank.
• Personal guarantees.