Labour proposes agency to manage CBILS loans

The Labour Party has called for the creation of a business recovery agency to manage CBILS loans – warning that businesses with substantial coronavirus-related debt could go under without support. Shadow chancellor Anneliese Dodds has said the Government’s insistence that firms start paying back £71bn in Government-backed loans from next month could hamstring companies as they attempt to recover from the crisis. Research by the party suggests that as many as 850,000 firms are at risk of closure over the next quarter, with the loss of up to 2.4m jobs.

Read more: Business Matters

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