This data was published today by the government.
It shows the demand for so-called 'bounce back loans' that have been made available to help businesses survive coronavirus.
76,000 new loans announced then. And rising sums being made available (and yes, I know the time intervals are not all equal).
But my point is sevenfold. First, business is not bouncing back.
Second, the scheme is coming to an end soon.
Third, as yet there is no replacement.
Fourth, most businesses with more than 1 employee in the UK will now have accessed this scheme.
Fifth, loan repayment is going to burden these businesses for a decade when grants would not have done so.
Sixth, the price of this will as a consequence be seen for a long time to come, quite unnecessarily.
And, seventh, things are going to get worse despite this scheme.
Without continuing support we are still in deep trouble.
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Changing restrictions (on public health grounds) without changing support is (at best) absurd and (at worst) evil.
It may be absurd to say this…. but for once, I wish our government was absurd. The alternative view is not good for my blood pressure!!
🙂
Mine is sky high…
(Actually, it’s not, but it feels like it)
Angela Rayner was spot on –
Sadistic, Corrupt, Unfeeling, Mean-spirited.
(SCUM)
Sometimes we all have to say these things to relieve the pressure.
On CH4 News last night they interviewed a Tory MP who showed SCUM tendencies as he (it?) swatted away the hardships created by the vote down of Labour’s proposal.
You could tell that he had no idea how real people actually live.
It was terrifying to watch – there was not hint of any empathy at all – AT ALL!
I saw it
Of course, the government continues its boycott
I noted that Channel 4 News referred to ‘test and trace’ system and mercifully didn’t prefix it with NHS. Perhaps and in accord with that pub in Liverpool the BBC will get round to calling it the ‘Bellend test and trace’
Not writing off loans will result in providing a big incentive for owners to liquidate assets and dissolve businesses.
I’m sure Sunak doesn’t intend this but that adds to the charge sheet : ignorant and unthinking.
The economy will be reduced to ashes without any sign of a phoenix in view.