Bounce Back Loan Scheme

(asked on 9th November 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what estimate they have made of the rate of defaults on Bounce Back Loans.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 23rd November 2020

As of 15 November 2020, £42.18 billion of loans have been provided under the Bounce Back Loan Scheme.

The BEIS Annual Report published on 30 September contained information on all debt loan schemes and potential loss estimates.

The initial indicative loss ranges are based on historic losses observed in prior programmes which most closely resemble the current Covid-19 interventions. However, no two programmes (or two economic downturns) are completely alike, and the estimate will be revised as more data becomes available.

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