Lending Monitor Q3 2022.

We are now at the point where the extended protection of government schemes to UK businesses has largely ended: the vast amounts of cash disbursed during 2020/21 created a ‘safety net’ that meant that balances held by businesses doubled almost overnight and stopped most business failures and masked other signs of distress. Yet, this protective cash cushion has been spent – with cash balances back at pre-pandemic levels.

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