Summary
TAKE-UP of the Government's pounds 20bn business support package launched at the height of the recession was lower than expected. The National Audit Office (NAO) said that by the end of 2009 the six schemes announced by the Department for Innovation, Business and Skills (BIS) in autumn 2008 provided just more than pounds 3bn in subsidies, loans and guarantees.
The BIS measures included the car scrappage scheme, as well as working capital guarantees and enterprise finance schemes to ensure that viable small businesses could gain access to loans.See the full content of this document
Extract
Government Support Schemes Had 'Unrealistic' Expectations
The department estimates that 6,200 firms received direc...
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