Treasury mulling 100% government-backed loans for smallest firms
by Phillip Inman and Kalyeena Makortoff from on (#52ME1)
Proposal follows slow take-up of bank lending by companies during Covid-19 crisis
The Treasury is considering introducing 100% government-backed rescue loans for Britain's smallest companies after the slow take-up of bank lending by businesses during the Covid-19 crisis.
The chancellor, Rishi Sunak, is believed to be close to making a decision about adapting the current scheme, which has come under criticism in the last week from business lobby groups, former chancellors and the governor of the Bank of England.
Continue reading...