News · 17 June 2026
British Council still owes £197m Covid loan
Pexels / Anas Khyzr
The public spending watchdog says this body, meant to promote UK culture, hasn't repaid any of a huge government loan. The National Audit Office, the public spending watchdog, found the British Council still loses money and doesn't expect to profit until 2029/30. They offered their art collection, with works by David Hockney, to repay the £197m, but the government wants cash.
Reported by Independent · How we write briefs