Nick Levine considers the extension of the government’s SME lending scheme and considers what the fallout may be for lenders and businesses.
On 1 November the UK government announced a second national lockdown, which many businesses had been told was a last-resort policy move and had planned accordingly.
In the space of a week, furlough, which had been due to finish on 31 October, was extended until March 2021 under the same terms for the first month. Mortgage holidays were extended by three months to six months total.
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