BCC responds to TheCityUK recapitalisation report
Commenting on TheCityUK Recapitalisation Group’s interim report on the recapitalising UK companies following Coronavirus, published today (8 June 2020), BCC Director General Adam Marshall said:
“This report is an extremely welcome contribution as we look to restart, rebuild and renew the UK economy.
“Many businesses have taken out loans to help weather the unprecedented economic impact of Coronavirus, and bold solutions will be needed to prevent thousands of firms from falling into a spiral of unsustainable debt.
“A number of the approaches proposed here should be investigated further - including a ‘student loan’ type instrument, where repayments begin once revenues return to pre-crisis levels, for smaller firms.
“Government, regulators and the City must now work together with business communities to find solutions that help viable businesses recover and invest as they emerge from this crisis.”