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Resolution Foundation Warns UK Government on Creating Zombie Firms, Conister Responds Saying BBLS and CBILS Kept Firms Alive
Earlier today, the
Resolution Foundation published a report called
On firm ground? The impact of Covid-19 on firms and what policymakers should do in response. The report seeks to assess the current state of corporates while setting out priorities for policymakers to allow enable firms to recover. The authors state that policymakers must first prevent viable businesses from failing in the coming months as the vaccine is distributed and then ensure that firms are in a position to rapidly recover. Last year, the Chancellor of the Exchequer announced a series of programs designed to support businesses during the unprecedented economic challenge of a global pandemic. Most of these programs involved government-backed lending by qualified financial services firms.
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