• Login
  • Register
The Daily Sceptic
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Podcasts
  • Newsletter
  • Premium
  • Donate
  • Log In
The Daily Sceptic
No Result
View All Result

Rishi Sunak Expected to Extend Covid Recovery Loan Scheme

by Michael Curzon
21 October 2021 7:25 AM

In his budget speech next week, the Chancellor is expected to announce an extension of the Government’s Covid recovery loan scheme – the amount of money that has been spent under which has not yet been published – which was due to end on December 31st. The Times has the story.

The scheme was launched in April as a bridge between the more generous coronavirus loan schemes and more normal credit conditions.

It provides credit worth up to £10 million and comes with an 80% Government guarantee for lenders. Its terms are less generous than previous pandemic loan schemes. Lenders are allowed to ask for personal guarantees from directors on loans over £250,000. Fees must be paid from the start and businesses must show that they would be viable were it not for the pandemic and had been affected adversely by the Covid crisis.

Data has not yet been published on how much money has been lent under the scheme. However, banking sources have said that the volume of loans has been lower than expected. Under three earlier Government-backed lending programmes, including the business interruption loan and bounce back loan schemes, almost £80 billion of loans were issued to help companies through the pandemic.

An industry source said: “The take-up [of the recovery loan scheme] was never really expected to be as big as the other schemes, but it also hasn’t been as big as they had expected.” The source said it would “make sense” to continue to provide an alternative to bank lending for businesses into the new year.

The economy grew by 0.4% in August, which was weaker than economists expected. It contracted for the first time in six months in July. …

A Treasury spokesman said: “We have provided over £79 billion to 1.6 million businesses through our government-backed Covid loans, including the recovery loan scheme, to ensure firms had finance they needed throughout the pandemic.”

Worth reading in full.

Tags: RecoveryRishi SunakThe Economy

Donate

We depend on your donations to keep this site going. Please give what you can.

Donate Today

Comment on this Article

You’ll need to set up an account to comment if you don’t already have one. We ask for a minimum donation of £5 if you'd like to make a comment or post in our Forums.

Sign Up
Previous Post

News Round-Up

Next Post

If Another Lockdown is Imposed, or Vaccine Passports are Introduced, the Government Will Use the Almost Unlimited Powers Granted to it by the Public Health Act

Subscribe
Login
Notify of
Please log in to comment

To join in with the discussion please make a donation to The Daily Sceptic.

Profanity and abuse will be removed and may lead to a permanent ban.

29 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

NEWSLETTER

View today’s newsletter

To receive our latest news in the form of a daily email, enter your details here:

DONATE

PODCAST

Special Episode of the Sceptic: Charles Cornish-Dale on Testosterone Decline, How the Modern World Is Making Us Sick and How to Save the West

by Richard Eldred
11 July 2025
1

LISTED ARTICLES

  • Most Read
  • Most Commented
  • Editor’s Picks

Emergency Exit at English Heritage

12 July 2025
by Mike Wells

Reform MP Sarah Pochin Accused of Lying About Impact of Illegal Migrants by Labour Council

12 July 2025
by Steven Tucker

Water Companies Use Smart Meters to Impose Surge Pricing During Heatwaves

12 July 2025
by Will Jones

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

12 July 2025
by Mary Gilleece

News Round-Up

13 July 2025
by Will Jones

Water Companies Use Smart Meters to Impose Surge Pricing During Heatwaves

29

News Round-Up

31

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

13

Emergency Exit at English Heritage

11

“Not Clear if Heat Pumps Will Save Money,” Government Adviser Admits

37

German Greens Demand Price Controls on Ice Cream Because Their Own Policies Have Made it Unaffordable

13 July 2025
by Tilak Doshi

Emergency Exit at English Heritage

12 July 2025
by Mike Wells

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

12 July 2025
by Mary Gilleece

How Much Does Cancel Culture Harm Academics’ Careers?

12 July 2025
by Noah Carl

Reform MP Sarah Pochin Accused of Lying About Impact of Illegal Migrants by Labour Council

12 July 2025
by Steven Tucker

POSTS BY DATE

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Sep   Nov »

SOCIAL LINKS

Free Speech Union

NEWSLETTER

View today’s newsletter

To receive our latest news in the form of a daily email, enter your details here:

POSTS BY DATE

October 2021
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Sep   Nov »

DONATE

LISTED ARTICLES

  • Most Read
  • Most Commented
  • Editor’s Picks

Emergency Exit at English Heritage

12 July 2025
by Mike Wells

Reform MP Sarah Pochin Accused of Lying About Impact of Illegal Migrants by Labour Council

12 July 2025
by Steven Tucker

Water Companies Use Smart Meters to Impose Surge Pricing During Heatwaves

12 July 2025
by Will Jones

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

12 July 2025
by Mary Gilleece

News Round-Up

13 July 2025
by Will Jones

Water Companies Use Smart Meters to Impose Surge Pricing During Heatwaves

29

News Round-Up

31

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

13

Emergency Exit at English Heritage

11

“Not Clear if Heat Pumps Will Save Money,” Government Adviser Admits

37

German Greens Demand Price Controls on Ice Cream Because Their Own Policies Have Made it Unaffordable

13 July 2025
by Tilak Doshi

Emergency Exit at English Heritage

12 July 2025
by Mike Wells

Over-Labelling Children With ‘Special Needs’ has Failed a Generation

12 July 2025
by Mary Gilleece

How Much Does Cancel Culture Harm Academics’ Careers?

12 July 2025
by Noah Carl

Reform MP Sarah Pochin Accused of Lying About Impact of Illegal Migrants by Labour Council

12 July 2025
by Steven Tucker

SOCIAL LINKS

Free Speech Union
  • Home
  • About us
  • Donate
  • Privacy Policy

Facebook

  • X

Instagram

RSS

Subscribe to our newsletter

© Skeptics Ltd.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Podcasts
  • Newsletter
  • Premium
  • Donate
  • Log In

© Skeptics Ltd.

wpDiscuz
You are going to send email to

Move Comment