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COVID-19 Pandemic: Key UK Government and Bank of England Initiatives to Support Businesses

Client memorandum | March 30, 2020

The UK government and the Bank of England have announced a range of initiatives to support UK business against the financial and economic fallout of the COVID-19 pandemic.  This memorandum summarizes the key initiatives introduced by the UK government and the Bank of England in response to the COVID-19 pandemic to support UK businesses as of 29 March 2020, including employment retention initiatives, lending programs, grants, tax measures, other measures to support the flow of credit and proposed changes to UK insolvency laws, and highlights certain considerations to bear in mind with respect thereto.   Certain key details as to how these initiatives will be applied in practice are still yet to come, as noted in the memorandum.

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