CBI responds to latest Government-backed loans figures

Rain Newton-Smith, CBI Chief Economist, said:

“From unveiling substantial measures at the outset of the pandemic to announcing the Recovery Loan scheme at Budget, the Treasury has taken bold, decisive steps to protect livelihoods throughout this crisis. Government support has saved countless jobs and businesses.

"When it comes to supporting firms’ cashflow, Bounce Back loans have been a standout success. Lenders have worked at speed to get emergency funds to companies in their hour of need.

“Looking ahead, the Government must continue to work with industry to carve a path towards long-lasting recovery.”