In news that is unlikely to surprise many of you, £17bn of the £47bn paid out in COVID "bounce back loans" is now considered unlikely to be repaid, with the British taxpayer on the hook for every penny. As much as £4.9bn of the drawings were considered out and out fraud.
I sat through this in a mid-size bank in Q2 2020 with massive clamouring for money to be shovelled out the door.
More in the Times.
I sat through this in a mid-size bank in Q2 2020 with massive clamouring for money to be shovelled out the door.
More in the Times.
Suitcases filled with cash from taxpayer-backed Covid loans were seized at the border as people tried to smuggle them out of the country, a Times investigation reveals today.
Border force officials have stopped people at airports across Britain “carrying large amounts of money suspected from coronavirus bounce-back loans”, a Home Office source said.
Other recipients of financial support during the pandemic used the money to fund gambling sprees, home improvements, cars and watches, it has emerged.....
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