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UK Credit Market Report: Good News and Warning Signs

FICO

Our latest UK Credit Market Report shows the continuing impact of COVID-19 on household finances even while furlough and payment holidays remained in place during the month. Spend on UK Cards Increases Marginally. Average spending on UK credit cards increased by only £1 in September to £640. Average spend is now only 2.9

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Covid furlough payment to help staff lost me mortgage

TheGuardian

But our application has been refused because the company I part-own received two months’ furlough payments for an employee who had to reduce her hours because she could not get childcare. I have never earned more than I do now and business is booming.

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UK recession expected to continue until spring amid Covid-19 surge

TheGuardian

City says economic fightback is running out of steam as new restrictions are announced Coronavirus – latest updates See all our coronavirus coverage Britain’s economy is heading for a prolonged recession lasting until next spring as the number of coronavirus infections climbs and tougher restrictions are introduced to contain the virus.

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Fears grow over UK firms' ability to repay Covid business loans

TheGuardian

National Audit Office warns of £26bn taxpayer loss on bounce-back loan scheme Coronavirus – latest updates See all our coronavirus coverage Taxpayers stand to lose up to £26bn on the government’s most popular Covid-19 business loan scheme because of fraud or an inability to repay the money, Whitehall’s spending watchdog has warned.