Treasury Minister Mark Hoban told ITV News that the £80 billion Funding for Lending Scheme will be a "welcome boost" to the economy, with the plan of "encouraging" small businesses and first-time buyers to invest in loans and mortgages.
More top news
With dozens of stores making losses and 11,000 jobs at risk, BHS's main task is to return as much money as possible to creditors.
PM spokesman's comments come following reports that the EU is secretly drawing up plans for greater military cooperation across the EU.
The Labour politicians put their alleged differences aside to jointly highlight how remaining in the EU could help fight climate change.