Debt levels soar for business as UK economy struggles to recover from Covid


Mounting concern as firms borrow for ‘survival rather than growth’, figures from EY show

Britain’s economy is facing a lengthy recovery from the third coronavirus lockdown amid soaring levels of business debt after almost a year of economic turmoil caused by the pandemic.

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Figures from the accountancy firm EY show British businesses took on debt at more than twice the normal average growth rate since the crisis began and are on course to have borrowed £61bn in total by the end of 2021.

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