Britain's Treasury and British Business Bank officials are reviewing access to state-backed loan schemes after the European Union relaxed state aid rules, The Daily Telegraph reported.
FILE PHOTO: Chancellor of the Exchequer Rishi Sunak is seen as he arrives at Downing Street, following the outbreak of the coronavirus disease , London, Britain, May 13, 2020. REUTERS/John Sibley
The Treasury is considering ways of making it easier for businesses to access coronavirus support loans - ahead of expected measures from British finance minister Rishi Sunak, the newspaper said. A Treasury spokesman confirmed to the newspaper that officials “are considering the implications of this amendment for the loan schemes” and that the change by the EC was “an important step in ensuring all viable businesses receive the help they need.”citing Treasury sources, said it was likely that UK firms rejected for emergency help under the EU's financial difficulty tests could reapply if the loan schemes were altered.
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