Lucio Santoro and Meera, his partner and co-founder of The Santoro Group, pose for a portrait in their garden, as the coronavirus disease lockdown continues, in Oxshott, Britain April 21, 2020. REUTERS/Dylan MartinezShare this contentProduction has stopped, staff have been suspended and support from the government's more than half a trillion-dollar economic rescue package is slow to come through.
But the system is stuttering: banks had lent 1.1 billion pounds by April 13, trade body UK Finance said. There are also reports from business groups that lenders, with 20per cent of the risk, are rejecting claims. In Switzerland, an emergency state-backed loan scheme of 40 billion Swiss francs delivered 14.3 billion francs of loans in the first few days.
Stephen Jones, the CEO of UK Finance, has said banks are working at reduced capacity due to their own staff shortages, and that a full government guarantee would help.Billionaire entrepreneur and philanthropist John Caudwell says the government needs to step up. Along with 100per cent loan guarantees, he wants it to pay 100per cent of salary for the lowest earners to help revive the economy once the lockdown eases.
That's RIGHT even Virgin-Air required transfusion too!