Why the UK's coronavirus bailout plan isn't working
by Nils Pratley from on (#526J1)
A dig into the data on the business interruption loan scheme unearths several areas of concern
Do not be misled by the government's painful attempt to present a doubling in coronavirus loans to small businesses as good news. The numbers are still shockingly low: 6,020 firms have borrowed a grand total of just 1.1bn in three weeks. The doubling in the past week merely represents an improvement from a dribble to a trickle. Rishi Sunak, the chancellor, had promised a flood.
Dig deeper into the statistics around the coronavirus business interruption loan scheme, or CBILS, and there are at least three areas of concern.
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