Treasury launches support package for businesses hit by tariffs

£20bn in UKEF support

The UK government has launched a multi-billion support package for thousands of British businesses impacted by US tariffs.

According to the Treasury, the package will enable UK Export Finance (UKEF) to bolster support for British businesses by £20bn, with small firms given access to loans of up to £2m through the British Business Bank's Growth Guarantee Scheme. Companies will also benefit from UKEF's partial loan guarantees "through more flexible uses of its Export Development Guarantee", the Treasury explained, which it claimed will help them offset the impact of tariffs and economic uncertainty. Reeves to call for stronger defence cooperation in meeting with EU officials The overall £80bn in governme...