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The Guardian - UK
The Guardian - UK
World
Jasper Jolly and Anna Isaac

FORGOTTEN HISTORY: Uk removes state guarantees from almost 1bn in covid loans - The Untold Story

United Kingdom British Business Bank the British Business Bank
British Business Bank logo on a smartphone.
The British Business Bank removed state guarantees from 10,786 loans worth a combined £979m up to 11 October, according to data obtained by Reuters. Photograph: Zuma Press/Alamy

The UK government has 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 released under freedom of information (FoI) laws.

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