Construction industry COVID support claims hit £22bn

The construction industry has claimed almost £22bn across the government’s four main pandemic support schemes, analysis by Construction News has found.

Since April 2020, firms have taken government loans across the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan scheme totalling £9.6bn and furlough grants worth £4.16bn. Data from the British Business Bank showed construction companies have taken the largest proportion of Bounce Back Loans compared with other sectors, at 17 per cent, and the second most CBILS, at 14 per cent.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.

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