
Should Bounce Back Loans be Written Off?
With more than 1.43 million bounce back loans approved, the UK government has now issued well over £40bn in help for small businesses. Rishi Sunak has also recently extended the application deadline, and allowed businesses that have already applied to top up their loan amounts. While the government's support for business has been widely applauded, there are also grown concerns from within the financial community about whether these loans will ever be repaid. In fact, the government’s own assessment of the matter, via the National Audit Office (NAO) suggests that taxpayers could lose as much as £26bn, from fraud, organised crime or default, highlighting that the scheme is likely to reach "significantly above" normal estimates for public-sector fraud” Other estimates suggest up to ...



















