More than £60 billion borrowed by UK firms via Covid support schemes

UK firms have borrowed more than £60 billion via COVID support schemes, according to the finance ministry.

After being criticised by three MPs recently about not being transparent with government contracts given to British companies during the Covid pandemic, the announcement will come as a step in the right direction.

Although these were not government contracts, the figure of more than £60 billion that has been borrowed by UK firms is part of government-backed Covid financial support programs.

This figure was announced this morning, Thursday, October 22, and was from the start of this week, showing sums lent by the three main loan schemes, backed by the UK government, are up from £57.3 billion a month previously.

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