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They have put the work in and have campaigned tirelessly for a decade now, and it is time for them to see action and to see money in their bank accounts. With a Labour UK Government, however, I do not expect to see change any time soon.
I, too, welcome the £1 billion guarantee facility to support bank lending to small and medium-sized enterprises and the separate £1 billion guarantee to support bank lending to small exporters.
In last week’s debate, I asked the SNP how it would do that in an independent country if we had the same currency, the Bank of England as the bank of last resort and the same financial regulation system, which it has said we would have.
Will that be repaid and, if not, can we really say that there was a break-even point in 2022? Committee members are aware that the cabinet secretary announced last year that brokerage that is outstanding as at the end of March this year—2019—does not have to be repaid.