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Emergency loans to be extended?

Chancellor Rishi Sunak is set to extend the UK’s £68bn coronavirus emergency loan schemes to support businesses hit by both Covid and Brexit, according to reports. Officials are drawing up plans to extend the three main loan guarantee schemes, including the government’s £43.5bn coronavirus bounce back loans programme, the Financial Times reported. The fresh batch of funding from the Treasury is expected to include the £19.6bn Coronavirus Business Interruption Loan Scheme and the £5bn Coronavirus Large Business Interruption Loan Scheme. The loan scheme extensions are anticipated to last until the end of the financial year in March, when the implementation of the tier system will be reviewed.

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