RACHEL REEVES is set to announce plans to help small businesses grow in what is likely to be one of her last acts as chancellor.Ms Reeves will unveil a £6.5 billion “uplift” to the Growth Guarantee Scheme in tomorrow’s Mansion House speech which provides a 70 per cent government guarantee on loans to small businesses.The British Business Bank says the expansion will help 33,000 businesses over the next three years, with loan terms extended from six to 10 years and eligibility widened to businesses with turnover up to £54 million.

RACHEL REEVES is set to announce plans to help small businesses grow in what is likely to be one of her last acts as chancellor.

Ms Reeves will unveil a £6.5 billion “uplift” to the Growth Guarantee Scheme in tomorrow’s Mansion House speech which provides a 70 per cent government guarantee on loans to small businesses.

The British Business Bank says the expansion will help 33,000 businesses over the next three years, with loan terms extended from six to 10 years and eligibility widened to businesses with turnover up to £54 million.

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