Even by their own breathtaking standards of arrogance, it takes some weapons-grade chutzpah for private equity companies to come wheedling for a bailout in the form of loans backed by the British taxpayer. They are, after all, supposed to be ultra-capitalists who make their millions by sheer talent and enterprise. It takes even more cheek … Read more
Fears Rolls-Royce will need billions in taxpayer bailout: Engineer has taken a £3bn Covid pandemic hit By Francesca Washtell For The Daily Mail Published: 21:50 BST, 9 July 2020 | Updated: 21:50 BST, 9 July 2020 Rolls-Royce burned through £3billion of cash during the first six months of the year as coronavirus dealt a hammer-blow … Read more
Rishi Sunak today admitted jobs will be lost despite his latest massive mini-Budget ‘bailout’ as he begged Britons to ‘relearn’ the habits of eating out and shopping as lockdown eases. The Chancellor defended the huge package amid criticism it is poorly targeted and does not go far enough, insisting a £1,000 bonus for businesses who … Read more
Philanthropists Hans and Julia Rausing have given an astonishing £10million ‘lifeline’ to help charities survive the coronavirus crisis. The Charity Survival Fund is aimed at bridging a funding gap that has left hundreds of voluntary organisations under threat. One in ten UK charities is facing bankruptcy by the end of the year because of falling … Read more
A furious row broke out yesterday over the Government’s decision to put Leicester back in lockdown. The city’s mayor demanded a new bailout for struggling businesses and police complained they needed clear instructions on enforcing restrictions. The local police commissioner also criticised the ‘drip-feeding’ of information from Whitehall to agencies on the ground. There was … Read more
Government could have effectively gone BUST if the Bank of England had not bailed it out at the start of coronavirus crisis, says governor Andrew Bailey Andrew Bailey said government could have gone bust without Bank stepping in UK borrowing soared as the coronavirus crisis took its grip around the world Public debt is now … Read more
Rishi Sunak ‘working on Project Birch business bailout which could see Government act as lender of “last resort” to stop key British firms from going under because of coronavirus’ Chancellor Rishi Sunak is apparently drawing up plans to save important firms Could see tailored bailouts where ‘viable companies have exhausted all options’ Government could act … Read more
Ministers have agreed to hand Sadiq Khan a £1.1billion bail-out package with ‘strings attached’ to get London’s transport system back up and running. The sides have struck a deal after days of intense wrangling, with the Mayor threatening to cut services unless he was given huge sums to help run the underground and bus networks … Read more
P&O ferries Dubai-based owner begs for £150m bailout (as it plans to give investors £270m) By Matt Oliver For The Daily Mail Published: 23:39 BST, 28 April 2020 | Updated: 23:39 BST, 28 April 2020 The owner of P&O Ferries is pleading with the Government for a £150million bailout – as it prepares to hand … Read more
Britain’s biggest steelmaker Tata Steel seeks taxpayer bailout of £500m – 10 times the amount available under government support scheme Tata Steel is in need of £500m funding package due to coronavirus impact Company has approached UK and Welsh Governments for financial support Local MP Stephen Kinnock asked Treasury to lift cap on business loans Tata Steel … Read more