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Amazon swallowed up FORTY per cent of £5billion extra cash spent online by Britons


Amazon has pocketed 40 per cent of the £5billion extra cash spent online by Britons throughout the coronavirus pandemic, MPs were told today. 
Shadow business minister Chi Onwurah has called on the Government to provide firm commitments to support small businesses against the rising popularity of digital retailers, adding many shops are afraid they won t make it through the winter.
Amazon is among the world s richest corporations, with its owner Jeff Bezos worth £84billion ($113billion), making him the richest person in the world.  
Business minister Nadhim Zahawi said the Government is spending £300million to support technology adoption into manufacturing to assist smaller companies.   ....

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HALF of Rishi Sunak's £42billion Covid business loans 'being hoarded in firms' bank accounts'


Tens of billions of pounds of taxpayers money dished out as loans to keep struggling firms afloat during the pandemic are being hoarded in bank accounts instead, MPs have been told.
Some £21billion - half of the total £42billion doled out by Rishi Sunak under various schemes - has yet to be used by the businesses that claimed it, representatives of UK banks said. 
The money was designed to help firms with rent and other expenses during the lockdowns and the general economic disaster that has been 2020.
They are underwritten by the Treasury, meaning the taxpayer foots the bill if they are not paid back by the recipient.  ....

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