Commons Sense

House of Commons · Written Ministerial Statement

Growth Guarantee Scheme

11 February 2025 · Department for Business and Trade

Proposed by Gareth Thomas Lab Co-op Harrow West

Business & TradeClimate

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • Gareth Thomas outlines details of a new variant of the Growth Guarantee Scheme aimed at supporting businesses in investing in green technologies.
  • The British Business Bank will reallocate funding from the existing GGS to pilot this scheme with a single lender.
  • The initial portfolio for the new GGS variant will be 30 million, with the total maximum lending across both GGS variants remaining at 2.2 billion.

Issue summary

Gareth Thomas outlines details of a new variant of the Growth Guarantee Scheme (GGS) aimed at supporting businesses in investing in green technologies.

Action requested

The British Business Bank will reallocate funding from the existing GGS to pilot this scheme with a single lender, facilitating an initial portfolio of £30 million. The total maximum lending facilitated across both GGS variants remains unchanged at £2.2 billion.

Key facts

  • The original GGS was launched on 1 July 2024.
  • Lenders offer facilities of up to £2 million under the existing scheme.
  • A pilot portfolio of £30 million will be facilitated for green asset investment.
  • The total maximum lending across both variants remains at £2.2 billion.
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