[2] It aims to step in to support sectors of the economy most affected by the pandemic and to reduce job losses,[3] but will only assist companies as a "last resort".
[4] Whilst the scheme was more likely to involve loans, it was also discussed as including stakes being bought in companies,[5] though the Chancellor of the Exchequer, Rishi Sunak, was understood to be reticent about this.
[4] Car manufacturers including Aston Martin and Jaguar Land Rover looked into government funding, with the latter in talks for a potential £1 billion loan.
The company, which is the UK's largest steel rebar manufacturer, was given a series of legally-binding conditions to adhere to, and told that the money was to be repaid in full.
His colleague Dodds said of the companies seeking help, "The longer it takes to get it, the higher the risk to jobs and businesses that the government itself admits are too important to fail".