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One in Three Firms Backed by UK Covid Fund Are Now Insolvent
Source: Bloomberg
Fiscal Policy & BudgetElections & Domestic PoliticsCompany Fundamentals
Over a third of UK government-backed Covid rescue program companies have gone bust, resulting in an estimated £423 million ($571 million) cost to taxpayers. The development highlights material credit/default losses under the state support framework, which is likely to pressure confidence around the program’s effectiveness.
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