Wipe out the bounce back and business interruption loans to boost the economy.

Rejected 14 signatures

What the petition asks

Many businesses and self employed people have had no choice but to take out these loans to keep their businesses afloat during a time of no/limited income. Please consider wiping the slate clean, or reducing the amount owed significantly.

This will help to boost the economy, as businesses can then focus on marketing and rebuilding their customer base using the money. This will help more businesses to survive this awful time. Many will fail or come into financial difficulty if they are expected to pay the loans back in full.

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

The Government has guaranteed Bounce Back and Business Interruption Loans, but these loans are issued by individual lenders, not the Government or House of Commons, so repayment is a matter for individual lenders and debtors.

We could accept a petition calling on the Government to provide grants to businesses and individuals who have applied for these loans, to allow them to repay the loans, if that is what you want to happen.

Timeline

22 Jun 2020	Petition opened for signatures
3 Sep 2020	Rejected by the Petitions Committee

Key facts

Signatures 14

Status Rejected

Rejected 3 Sep 2020

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