The Treasury has released figures showing more than one million firms across the UK have received a government-backed loan, as the chancellor prepares to travel to Scotland to argue against independence.
Rishi Sunak will be the fourth senior cabinet member to venture north of the border in recent weeks as ministers try to stem an apparent rise in support for leaving the UK.
Mr Sunak will highlight that 65,000 businesses recovering from coronavirus across Scotland have received £2 billion in government-backed support.
Download the new Independent Premium app
Sharing the full story, not just the headlines
The bounce back loans scheme, announced in April, offers between £2,000 and 25 per cent of the turnover of small and medium sized businesses.
The UK Government also guarantees the loans, which have no interest for the first year before the rate rises to 2.5 per cent after 12 months.
Ahead of his visit to Scotland, Mr Sunak said: “I’m proud that we have supported more than 65,000 businesses in Scotland through our loan schemes and we are committed to continuing to support them to bounce back and succeed.”
Scottish Secretary Alister Jack also said the UK Government was “doing all it can to help Scotland’s economy through this pandemic”.
He added that almost 900,000 jobs in Scotland were also being supported through the separate furlough and self-employed schemes.
In recent weeks Mr Sunak’s Treasury colleague Steve Barclay, business secretary Alok Sharma and Boris Johnson have all made the trip north.
Last night the SNP said Mr Sunak should apologise to people in Scotland “paying the price” for his party’s Brexit policy.
