LONDON (UK) – The UK government has underwritten £45 billion ($56 billion) of borrowing by businesses which were hammered by the coronavirus crisis. It has so far spent more than £27 billion to boost jobs, revealed the finance ministry figures on Tuesday.
Under the job furlough scheme, which supports 9.4 million jobs, spending climbed to £27.4 billion as of July 5 from £25.5 billion a week before.
Government-backed lending for small businesses went up to £30.93 billion. Lending to medium-sized and large companies climbed to £11.49 billion and £2.58 billion respectively in two programmes which offer an 80% guarantee to lenders.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field