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Coronavirus: Taxpayers ‘face £36bn bad debt from emergency loans’

Coronavirus: Taxpayers ‘face £36bn bad debt from emergency loans’
Sunday 7
1:0 2020

British companies could be saddled with unsustainable taxpayer-guaranteed loans of up to £36bn as they try to survive the coronavirus pandemic, a report from a panel of business leaders will warn next week. Sky News has learnt that a group set up to work out how to recapitalise swathes of UK plc in the wake of the crisis will suggest that emergency schemes launched by the Treasury could result in the vast bad debt burden accruing in 2021. The report from TheCityUK's Recapitalisation Group, which is chaired by the former Aviva chairman Sir Adrian Montague, will include a new overall ...

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Read more from Sky News : Coronavirus: Taxpayers ‘face £36bn bad debt from emergency loans’
Sky News : Coronavirus: Taxpayers ‘face £36bn bad debt from emergency loans’

Summary: British companies could be saddled with unsustainable taxpayer-guaranteed loans of up to £36bn as they try to survive the coronavirus pandemic, a report from a panel of business leaders will warn next week.

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