Issue grants to repay Covid Bounce Back Loans up to £8,000 for small businesses

A lot of businesses weren’t entitled to grants so had to resort to Bounce Back Loans when they were most vulnerable. Businesses could borrow up to £50,000 depending on how big their business was. Issuing grants to enable businesses to replay off loans of up to £8,000 would help so many small businesses out by not having that burden over their shoulders for the next 6 years, especially in the cost of living crisis. Give small businesses a chance to succeed in one of the hardest times ever.

Any tax increases to fund these grants should only apply to businesses that benefited from these loans, and should be set at a rate that spreads the financial burden over a longer period than the repayment terms for these loans.