July 14, 2020 / 9:20 AM / a month ago

Demand for UK COVID loans and jobs plan flattens out - Treasury data

FILE PHOTO: A man rests in an almost empty area in the City of London financial district, following the outbreak of the coronavirus disease (COVID-19) in London, Britain July 13, 2020. REUTERS/Toby Melville

LONDON (Reuters) - Demand for emergency coronavirus loans backed by the British government and for its huge job retention programme has further flattened out, finance ministry figures showed on Tuesday.

The government had underwritten just over 46 billion pounds ($58 billion) of borrowing by businesses hit by the lockdown as of July 12, up about 1 billion pounds from a week earlier.

Its job retention scheme has covered 9.4 million jobs, unchanged from the previous total, with 28.7 billion pounds of claims made, up from 27.4 billion pounds.

($1 = 0.7987 pounds)

Reporting by William Schomberg, editing by David Milliken

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