2026-10-20 · BBC News
🔮 Bounce back loans worth a total of £46bn were issued when the scheme was launched in May 2020, making it the biggest of the government's pandemic-era loan schemes.
Each one had a 100% government guarantee, meaning taxpayers' cash was used to pay back banks if the companies failed, but the Covid counter-fraud commissioner later found total fraud and error estimated at up to £2.8bn to the public purse. assertive
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