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Defaults on business covid loans could reach £22bn

Almost a third of coronavirus business interruption loan scheme (CBILS) and bounce back loan scheme (BBLS) loans, amounting to £22bn, will go into default, claims ACP Altenburg Advisory The debt…
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Treasury invests £500m in Plan for Jobs expansion

The Treasury announced yesterday that it was to support hundreds of thousands of people as part of a £500m expansion to the government’s Plan for Jobs scheme As part of…
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Furloughed staff at lowest number since start of pandemic

The number of people on furlough has fallen to the lowest level since the start of the pandemic as the UK economy continues to recover and businesses reopen A total…
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Use final month of furlough to plan for the future

Insolvency and restructuring trade body R3 is urging directors of Covid-hit businesses to use the final month of the government’s furlough scheme to plan for the future and address any…
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SMEs plan to hire more staff as confidence returns

Half of UK SMEs, 56%, expect to recruit more staff over the next year with 60% of SMEs intending to invest in their businesses, with only 20% intending to borrow,…
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660k jobs at risk when furlough ends

 Around 660,000 jobs will likely still need furlough when the scheme ends in September with thousands being pushed into unemployment if the government doesn’t extend it past the deadline The…
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The impact of the UK’s post-covid finances on recovery and insolvency

Following the Chancellor’s Budget back in March, the scale of the shock to the UK economy as a result of covid-19 is now clear. Covid-19 is now estimated to have…
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