The Business Secretary has warned banks that it is their turn to "repay the favour" and bail out taxpayers struggling during the coronavirus crisis.
At the Covid-19 press conference on Wednesday, Alok Sharma said the Chancellor, the Bank of England and the Financial Conduct Authority have written to chief executives of UK banks.
He said they had urged them to make sure the benefits of the Covid Business Interruption Loan Scheme are “passed through to businesses and consumers".
Firms around the UK have spoken of their frustration after being either refused loans or left unable to speak to banks over the phone.
Speaking in Downing Street, Mr Sharma said the Government had bailed the banks out in the financial crash of 2008 and it was time to "repay the favour" to taxpayers.
“It would be completely unacceptable if any banks were unfairly refusing funds to good business in financial difficulty,” Mr Sharma warned.
“Just as the taxpayer stepped in to help the banks back in 2008, we will work with the banks to do everything they can to repay that favour and support the businesses and people in their time of need.”
It comes as Downing Street said more than 2,000 NHS staff have been tested for coronavirus as the Government faces intense scrutiny over its policy on testing.
Professor Yvonne Doyle, medical director of Public Health England (PHE), told the Number 10 daily press briefing that 10,000 tests per day were now being carried out and the aim was to get to 25,000 tests by mid-April.
She said the intention was to “get from thousands to hundreds of thousands in the coming weeks.”
PHE has also come under fire over wider testing of members of the public with Covid-19.
It has said repeatedly that most adults who develop symptoms will fully recover and do not need to be tested.
However, many scientists disagree and say it is only through widespread community testing that the UK will be able to track the virus and emerge from lockdown.
