Greg Clark MP has written to the group of five north London MPs, Theresa Villiers, David Burrows, Nick de Bois and Mike Freer, who he met in April to update them on the situation relating the Cyprus banks operating in the UK.
Following up on questions asked at the meeting, the minister indicated that the UK Government had offered to assist with a trade delegation that Cyprus has planned for the UK, in June. This work is being undertaken by UK Trade and Investment, the body that promotes trade and inward investment overseas.
Mr Clark has also arranged for specialist retail banking teams from banks, including Lloyds and RBS, to provide advice to SMEs and other Laiki customers affected by the banking crisis. In addition, HMRC has a ‘Time to Pay’ scheme in place for those who are facing short term financial difficulties.
Theresa Villiers MP said:
“I am encouraged by this progress and grateful for the swift response from Greg Clark. This continues to be a difficult situation for a number of businesses who have overdrafts or loans with Laiki UK and it is important that efforts are made to try to resolve matters as quickly as possible. I will continue to work to ensure that those individuals and businesses concerned are given help and advice.”