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UK ‘removes state guarantees from almost £1bn in Covid loans’
Reported move over scheme run by British Business Bank pushes losses on to banks if borrowers fail to repay
The UK government has reportedly removed state guarantees from almost £1bn in Covid-19 emergency loans, pushing potential losses on to banks if borrowers fail to repay them.
The taxpayer-owned British Business Bank (BBB), which runs the loan schemes, removed state guarantees from 10,786 loans worth a combined £979m up to 11 October, according to data obtained under freedom of information laws by Reuters.
Read the original article at The Guardian