At least £ 100 million in taxpayer-backed Covid loans went to companies set up after the pandemic, raising questions about whether the money had gone to businesses it was intended to help.
The money was intended to help existing companies affected by the effects of the pandemic, but a loophole meant that new companies that were not targeted by the policy could also benefit.
The government is facing criticism for its Covid loan schemes, which cost taxpayers billions of pounds, including approximately £ 15 billion, which are unlikely to be repaid.
Under the Coronavirus Interruption Loan Scheme (CBIL), introduced in March 2020 during the first round of government support for the pandemic, small and medium-sized enterprises could borrow up to £ 5
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