Schools closure poses headache for industry as Bank gives details on funding lifeline

By Dave Rogers2020-03-18T21:14:00

Financing scheme to run for at least 12 months

More uncertainty hit sites last night after schools across the country were ordered to close tomorrow (Friday). The news came a short time after the Bank of England unveiled details of its plan to allow larger contractors access to cheaper capital so they can keep going in the wake of the coronavirus crisis.

The Bank’s Covid-19 Corporate Financing Facility, set up by the Treasury to support firms who have been hit by a funding squeeze, will run for an initial 12 months – suggesting the government recognises that getting back to normality will be a long haul for firms.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community