Chuka Umunna MP, Labour’s Shadow Business Secretary, responding to reports the Serious Fraud Office is to investigate alleged misuse of loans to businesses, said:

“These are very serious allegations indeed and it is welcome that the Serious Fraud Office is looking into them to determine if there has been any criminal wrongdoing.

“The Business Secretary should order his Department to urgently carry out a full and comprehensive investigation into these allegations to determine whether there have been abuses and to give the public comfort that taxpayers’ money is not being misused. No doubt the Business Department will draw on any findings the SFO makes in any investigation it carries out into alleged misuse of the scheme.”