April 22nd, 2020.




Chancellor Rishi Sunak has poured cold water on calls for the Treasury to provide a 100 per cent guarantee for coronavirus business interruption loans.

The government is currently underwriting 80 per cent of loans to small businesses that are struggling for survival.

However, there have been a chorus of voices – including three former Conservative chancellors – calling for that guarantee to be lifted to 100 per cent, as is the case in Switzerland.

Speaking at the Downing Street press conference, Mr Sunak said he was “not persuaded” that a total state guarantee was the right thing to do, despite pleas from small businesses being rejected through the Coronavirus Business Interruption Loan Scheme (CBILS).

Mr Sunak argued that when the plethora of government coronavirus emergency business funding was looked at in total, with grants for small businesses, as well has the furlough scheme which.....


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