HM Treasury has published feedback on its consultation and call for evidence on commercial credit data sharing and the Bank Referral Scheme. The Government will be going ahead with its proposal to legislate to strengthen data sharing to further support SME lending, including expanding the scope of sharing so it goes beyond banks. However, it will not be making any legislative changes to the Bank Referral Scheme, preferring to ask the financial sector to make suggestions on how industry can improve referrals and support better outcomes for SMEs – and it asks that they do this by the end of 2026.
HMT feeds back on commercial credit data sharing
