Bounce straight back loans: Taxpayers may lose Р’Р€26bn on unpaid loans

As much as 60percent of emergency pandemic loans made underneath the Bounce straight Back scheme may never ever be paid back, a study by the government's investing watchdog states. The National Audit workplace (NAO) stated taxpayers could lose just as much as Р’Р€26bn, from fraudulence, organised crime or standard. The lending scheme carried lighter checks than the others and ended up being geared towards smaller businesses unable to access other funding support that is pandemic….