The government is reportedly considering extending its Covid-era Recovery Loan Scheme for small businesses to assist businesses struggling with rising costs and border supply issues. However, the EU’s temporary state aid framework – which allowed the bloc to relax some of its rules during the pandemic – is set to expire on June 30.
According to the Sunday Telegraph, this would mean that the maximum loan amount available would be £1 million, whereas businesses can currently borrow up to £2 million.
It comes as Boris Johnson prepares to travel to Belfast on Monday to encourage politicians to form a power-sharing executive after Sinn Fein was re-elected as the country’s largest party in last week’s elections.
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