Mechanic near me built a whole new workshop off thos loans. His business never stopped trading through the entire pandemic he was flat out didn’t suffer a loss of a penny. Then whacked his prices up to cover the repayments and engineered disagreements with everyone he used to do business with. Presumably in the hope we would all move on and forget about it.
Or as we would actually say £1.1b
Fraud overseen and signed off by the criminal Sunak. Get these criminals into prison.
What will be interesting to see will be the amount they “write-off” rather than try and recover?
People are being told not to cancel their Direct Debits with energy provides as that would be “irresponsible”. Let’s see how responsible our government is when tackling fraudsters.
[deleted]
What about the money they gave to small businesses up front to ‘pay council rates’.
I know someone who simply closed up shop, bagged £10k and threw it towards a nice new van.
They’d been planning to close down the shop beforehand anyway. Why did the gov not just give that money straight to councils??? Why give it to the traders to pass on? It made zero sense.
Donr worry HMRC is slowly going through the list.
Why do you think the tories want to cut civil service numbers
It is absolutely nuts. Day in day out law firms and insolvency practitioners are dealing with companies which were opened for the sole purpose of taking out a bounce back loan, before closing and liquidating it. Some people, fortunately, are receiving prison sentences but that is the rare minority. I am astonished at the lack of checks made prior to significant funds being put into theses “businesses” bank accounts.
Sometimes I wish I had fewer scruples
A high end car dealer near me (£50k range rover as, Audi Q7, mercs etc) pre covid used to sell 5 or so a week. He said 95% were PCP payments and 5% cash/card.
A week after BBL payments hit be sold close to 50 cars in a week, 95% cash and 5% PCP.
Same story with a local jet ski company.
What a surprise to absolutely nobody.
They issued loans while actively promoting;
1. Less pre approval checks.
2. Only have to pay it back if you can.
I’d be shocked if it was only £1.3 billion. If I was a small business owner and the government forcefully shuttered my business I’d take them for everything they’d give me.
We had no checks and balances, we put those aside to ensure everyone could get the money they “Need” more easily
And those that could, exploited the system, affecting everyone else, and this would then lead on to more check and balances in the future that would effect those that would badly need the help sooner.
Suspected fraud that is being investigated?
Johnson’s croneyism must be punished.
Is there a register of which companies took the loans?
There’s a deli down my road that closed early days, then had a huge and expensive refurb. Reopened last summer as cash-only, suspiciously.
nothing will happen since the money is not gone its with Tory donors and friends PLC
17 comments
[deleted]
Mechanic near me built a whole new workshop off thos loans. His business never stopped trading through the entire pandemic he was flat out didn’t suffer a loss of a penny. Then whacked his prices up to cover the repayments and engineered disagreements with everyone he used to do business with. Presumably in the hope we would all move on and forget about it.
Or as we would actually say £1.1b
Fraud overseen and signed off by the criminal Sunak. Get these criminals into prison.
What will be interesting to see will be the amount they “write-off” rather than try and recover?
People are being told not to cancel their Direct Debits with energy provides as that would be “irresponsible”. Let’s see how responsible our government is when tackling fraudsters.
[deleted]
What about the money they gave to small businesses up front to ‘pay council rates’.
I know someone who simply closed up shop, bagged £10k and threw it towards a nice new van.
They’d been planning to close down the shop beforehand anyway. Why did the gov not just give that money straight to councils??? Why give it to the traders to pass on? It made zero sense.
Donr worry HMRC is slowly going through the list.
Why do you think the tories want to cut civil service numbers
It is absolutely nuts. Day in day out law firms and insolvency practitioners are dealing with companies which were opened for the sole purpose of taking out a bounce back loan, before closing and liquidating it. Some people, fortunately, are receiving prison sentences but that is the rare minority. I am astonished at the lack of checks made prior to significant funds being put into theses “businesses” bank accounts.
Sometimes I wish I had fewer scruples
A high end car dealer near me (£50k range rover as, Audi Q7, mercs etc) pre covid used to sell 5 or so a week. He said 95% were PCP payments and 5% cash/card.
A week after BBL payments hit be sold close to 50 cars in a week, 95% cash and 5% PCP.
Same story with a local jet ski company.
What a surprise to absolutely nobody.
They issued loans while actively promoting;
1. Less pre approval checks.
2. Only have to pay it back if you can.
I’d be shocked if it was only £1.3 billion. If I was a small business owner and the government forcefully shuttered my business I’d take them for everything they’d give me.
We had no checks and balances, we put those aside to ensure everyone could get the money they “Need” more easily
And those that could, exploited the system, affecting everyone else, and this would then lead on to more check and balances in the future that would effect those that would badly need the help sooner.
Suspected fraud that is being investigated?
Johnson’s croneyism must be punished.
Is there a register of which companies took the loans?
There’s a deli down my road that closed early days, then had a huge and expensive refurb. Reopened last summer as cash-only, suspiciously.
nothing will happen since the money is not gone its with Tory donors and friends PLC