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UK finance sector devises battle plan to tackle COVID debt pile

More than 200 of Britain’s top financial experts have joined forces to design initiatives to help small businesses restructure and repay as much as 35 billion pounds in “unsustainable” COVID-19 relief debt.

UK finance sector devises battle plan to tackle COVID debt pile
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  • Shared by Reuters
  • July 16, 2020
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TheCityUK Recapitalisation Group on Thursday proposed the launch of a UK Recovery Corporation (UKRC) to oversee a massive pile of government-guaranteed loans issued since lockdown, offering more manageable terms to borrowers and preventing a wave of bankruptcies borne by the taxpayer.

Read more at Reuters

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