The plan was announced Tuesday this is a COVID-19 ICYMI!
The new measure will be run by the Bank of England
- Covid Corporate Financing Facility - its aimed at big business, not small
- will buy commercial paper with a maturity of up to 12 months from businesses (those that had
- an investment-grade credit rating or similar pre-crisis)
An additional measure was announced by Chancellor of the Exchequer Rishi Sunak
- finance ministry business loan guarantees totalling 330 bn GBP
- extra 20 bn of direct aid
