Less than a week after presenting Budget 2020,1 on 17 March, the United Kingdom (UK) Chancellor, Rishi Sunak, announced a wide-ranging package of further measures to support businesses and individuals affected by the outbreak. These included £330b of Government-backed and guaranteed loans to businesses through two main schemes:
- To support liquidity among larger firms, there will be a new lending facility to provide low cost, easily accessible commercial paper.
- To support lending to small and …