Two of the most senior Ministers leading the Government response to the coronavirus crisis are locked in battle over when to lift the economically devastating lockdown. Chancellor Rishi Sunak has made ‘robust’ representations to Health Secretary Matt Hancock, arguing that unless a path is mapped now for a swift return to normal economic activity it … Read more
What are the new measures that have been introduced? The Treasury has confirmed: The introduction of a new Coronavirus Large Business Interruption Loan Scheme (CLBILS) providing a Government guarantee of 80 per cent to enable loans of up to £25 million for firms with an annual turnover of between £45 million and £500 million A … Read more
Mortgage holidays for 1million homeowners as banks approve breaks for cash-strapped Britons struggling to meet payments during lockdown Banks have approved nearly one million mortgage holidays for homeowners Industry bombarded with requests since Rishi Sunak’s announcement last week Financial Conduct Authority also plan to require banks to introduce £500 interest-free overdrafts By Ben Wilkinson Money Mail … Read more
Rishi Sunak bans banks from charging rip-off loans to ailing firms as the chancellor steps in after lenders were accused of exploiting businesses Rishi Sunak is stepping in after lenders were said to be exploiting businesses Banks allegedly turning down requests for Government cash support scheme Some have been telling companies they can get one … Read more
UK coronavirus bailout bill is set to SOAR after firms ‘furlough half their staff’ – as Rishi Sunak plans ANOTHER rescue package for business amid growing fears companies are unable to access the loans they need New survey of business suggests there is a massive take up of furlough scheme Some 44 per cent said … Read more
Business Secretary Alok Sharma today fired a broadside at UK banks as he warned them it would be ‘completely unacceptable’ to ‘unfairly refuse’ loans for coronavirus-hit firms. The government previously set out the terms of a bailout for businesses to allow them to access money in order to stay afloat. But many firms have detailed … Read more
Britain’s ‘greedy’ banks are threatening the future of up to a million firms who say they will go bust after being denied access to the Government’s emergency loan scheme set up to bail them out because of coronavirus. Victims have told MailOnline the Treasury’s ‘approved’ lenders are ‘taking advantage’ of the crisis and offering interest rates … Read more
Nearly a million Britons try to claim Universal Credit over two week period after huge surge in ex workers applying for support amid coronavirus crisis Around 880,000 people applied for Universal Credit in a two week period This is significantly above the 100,000 applications normally made in a fortnight Labour MP Stephen Timms said some … Read more
Nearly a fifth of small British businesses could be forced to close in the next four weeks after running out of cash amid complaints the government-backed loan scheme was ‘not accessible’. Many bosses said banks had refused them an emergency loan for not meeting the criteria while others could not get through on the phone … Read more
Ex-Cabinet minister David Davis slams Chancellor Rishi Sunak’s ‘tax raid’ on the self-employed to fund coronavirus bailout Chancellor Rishi Sunak suggests tax hike to pay self-employed coronavirus aid Mr Davis said putting taxes up for self-employed would be ‘final straw’ for many Tory sources say up to 50 Conservative MPs could back rebellion led by … Read more