The UK government’s Treasury is worried about the reputation of the country's banking industry as it begins to consider how to ease the economy off the government-backed support schemes put in place to help businesses struggling to stay afloat during the pandemic.

“There are reputational concerns, both for banks and for us, in how the lending schemes are exited and serviced, and that is a concern that we have had through the establishment of schemes, through their opening, through their running and I do not doubt through the exits,” Katharine Braddick, the director-general of financial services at HM Treasury, said on 10 July during a webinar on corporate debt post-Covid-19.