Final Covid loans data reveals £80bn of government support through the pandemic

Over 1.67 million loans have been provided, supporting businesses of all sizes across the UK, ranging from big manufacturers and exporters that have received Coronavirus Large Business Interruption Loans (CLBILS), to innovative tech companies that have benefited from the Future Fund, as well as the millions of smaller businesses that have received a Bounce Back Loan (BBL).

"We promised to stand by businesses at every stage of the pandemic and we have delivered on that promise," said Chancellor Rishi Sunak.

"I am proud of the extraordinary extent of support we’ve offered since March last year – we will continue to back businesses and protect people’s jobs as we recover from coronavirus."

According HM Treasury data, more than 1.5 million Bounce Back Loans worth £47 billion were provided during the pandemic, with £26 billion also provided as Coronavirus Business Interruption Loans (CBILS) as well as over £5 billion worth of CLBILS.

A further £1.12 billion of funding has been provided to 1,140 high growth firms through the Future Fund. This scheme, which closed on the 31 January, was designed to support innovative UK companies that typically rely on equity investment and whose access to investment was affected by Covid-19.

Businesses will continue to access government-back loans through the new Recovery Loan Scheme, which opened in April and runs until the end of the year. Innovative firms will also have access to the new Future Fund: Breakthrough scheme will launch later this month.