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Nearly £20 billion to be lost from Covid loan schemes


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An estimate from the Department for Business Energy & Industrial Strategy (BEIS) found that around £19.8 million out of the £66.5 billion that was lent under three schemes could be lost.

The data only runs until March this year, and over £10 billion more was lent before they closed, so the final lost figure is likely to be a little higher.

It is a large amount of money, but far behind an earlier estimate that put the losses at between 35% and 60% – or around £23 billion to £40 billion on the loans that had been made in March.

MSN Money

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