All the updated news related to covid loans

All the news related to covid loans updated in real time

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One in 12 businesses default on Covid loans, figures show

Banks ask Government to pay £1 in every £9 for Covid loans

Around one in 12 businesses have defaulted on the Government-backed loans they took during the pandemic. The Department for Business, Energy and Industrial Strategy revealed on Thursday that £414 million has so far been paid out to cover loans that ...

28 Jul 2022 at 16:08

Government must do everything in its power to reduce Covid loan fraud hit – MPs

The head of an influential group of MPs has said that the Government left the goal open to fraudsters when it designed the multibillion-pound support for businesses during the pandemic. Dame Meg Hillier, who chairs the Public Accounts Committee, ...

18 May 2022 at 01:25

‘Happy days if you were a crook’ at start of Covid loan scheme: Lord Agnew

A former Treasury minister who resigned in anger over the handling of fraudulent coronavirus loans said it was “happy days if you were a crook” at the start of the pandemic. Lord Agnew, who resigned from his role in January in the House of ...

09 Mar 2022 at 17:25

City

Government pays banks £1.2bn more to cover Covid loans that went sour

The Government paid out another £1.2 billion to settle pandemic emergency loans that had gone bad between April and June, new figures suggest. The Department for Business and Trade said that the Government had now paid out on 14.5% of the ...

14 Sept 2023 at 12:31

City

Government ‘passive’ in recovering £1.9bn of Covid loan losses, MPs warn

The Government has been “dangerously flat-footed” in its approach to recovering nearly £2 billion in estimated taxpayer losses from the Covid bounce back loan scheme, MPs have warned. The Public Accounts Committee (PAC) – comprised of ...

25 Jun 2025 at 11:44

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