The Government is said to be considering an extension of its Covid-era Recovery Loan Scheme for small businesses to help companies in the nation struggling with soaring costs and supply issues at the border. However, with the EU’s temporary state aid framework – which relaxed some of the bloc’s rules during the pandemic – is due to end on June 30.
Government sources told the Sunday Telegraph that this would mean that the maximum amount it would be able to offer in a loan was £1million, whereas currently businesses can borrow up to £2million.
It comes as Boris Johnson is set to travel to Belfast on Monday to encourage politicians there to form a power-sharing executive, after last week’s elections returned Sinn Fein as the largest party there.
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