• Staff Mediterraneo Capital Ltd

£36 BILLION TOXIC DEBT WARNING

Aggiornato il: lug 28

An interim report by the Recapitalisation Group, led by EY and TheCityUK, projects that businesses will be left with between £97 billion and £107 billion worth of unsustainable debt by March 2021. A third of that total will come from government-backed loans (The Guardian, p29). The report suggests ideas which have been put to the Bank of England and HM Treasury and include turning debt into equity or a profit tax, and introducing debt repayment holidays. There are hopes that private investors, including pensions funds, could take part. A final version of the report, which has now been released for consultation, is expected by July (The Sunday Times, p1).



Separately,The Daily Telegraph(B1, £) reports that Lloyds Banking Group chairman Norman Blackwell, has called on the government to set up a vehicle that will take on debts from some companies unable to repay their state-backed coronavirus loans. If it goes ahead the programme is likely to be compared to the so-called "bad bank" set up by ministers to handle loans in the wake of the financial crisis. Lord Blackwell suggested that a better solution would be to take debt not likely to be repaid away from banks at a much earlier stage, bringing in either corporate investors or the Treasury


Source : UK Finance


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