Covid loan defaults could cost the Treasury up to £25bn
Posted On: 12th July 2021
UK companies borrowed almost £80bn across the government’s flagship coronavirus loan schemes in the year to March, according to recently published Treasury data, costing the Treasury around £25bn in loan defaults.
UK companies borrowed almost £80bn across the government’s flagship coronavirus loan schemes in the year to March, according to recently published Treasury data, costing the Treasury around £25bn in loan defaults. This figure is based upon just-published scheme utilisation levels and Covid loan default forecasts by the Office for Budget Responsibility (OBR).
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