To cover fraud and default on the £77bn state-guaranteed loans given to struggling companies during the coronavirus lockdowns, more than £4.4bn worth of taxpayers’ money was paid to British banks.
To cover fraud and default on the £77bn state-guaranteed loans given to struggling companies during the coronavirus lockdowns, more than £4.4bn worth of taxpayers’ money was paid to British banks.
As the UK seeks to plug its funding gap, there are growing concerns in London regarding higher taxes being imposed upon banks.
Britain’s mortgage prices continued to rise on Monday as Kwasi Kwarteng, Chancellor of Exchequer, prepares to address restless Tory politicians to win back trust in his economy handling.
According to the spending watchdog, the U.K. did not put in place effective measures to protect taxpayers from fraudulent pandemic loans to businesses of up to 4.9 billion pounds ($6.5B).
(CINE ), UK’s biggest cinema exhibitor chain has announced that it has secured $200m in incremental loans from existing lenders. These loans will mature in May 2024.
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