Bank of England boss: Loans need to be sorted out

The boss of the Bank of England has said that emergency lending to businesses"has to be sorted out" amid the coronavirus pandemic.

Chancellor Rishi Sunak said in March that UK-based small and medium-sized business could apply for an interest-free loan of up to £5m to help them with Covid-19 related difficulties. Mr Bailey also said that the chancellor and HM Treasury had to make a decision on whether or not the taxpayer gives 100% backing for the loan scheme.Currently, the government guarantees 80% of the loan amount to give banks and financial companies the confidence to lend.

The chancellor talks the talk, but people aren't getting the loans they need. Simples!

...Foresight:...looking after the economy by encouraging the Government to invest in Healthcare to avoid the negative effects of an Epidemic or Global Pandemic...

We need the government to create a national bank and get the money to those who need it that way.

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Bank of England tells lenders to ‘get on with’ Covid-19 business loansAndrew Bailey says ‘livelihoods are at stake’ as figures show only £1.1bn lent to small firms England should just create a national bank. so should USA. just take the actions you want and stop begging private groups to do it
Source: The Guardian - 🏆 84. / 53 Read more »

Bank of England tells lenders to ‘get on with’ Covid-19 business loansAndrew Bailey says ‘livelihoods are at stake’ as figures show only £1.1bn lent to small firms England should just create a national bank. so should USA. just take the actions you want and stop begging private groups to do it
Source: The Guardian - 🏆 84. / 53 Read more »