Transport sector could cost Treasury up to £1.2bn in Bounce Back Loan Scheme defaults, researchers warn


 

The transport industry could cost the Treasury £1.2bn in Covid-19 loan defaults, according to research by Business Rescue Expert. The research looked at the rate at which small businesses have used the government’s Bounce Back Loan Scheme (BBLS) since its launch in May 2020. As the first repayments under the BBLS scheme now fall due, Business Rescue Expert found that overall the BBLS could cost the Treasury £27bn in loans that will not be repaid, with the transport and warehousing […]