The first audit of the government's spending during the pandemic has revealed a 66% allocation directed at businesses in an attempt to stabilise the country’s turbulent economy during the downturn.

Out of the government’s £124.3bn total spend on its pandemic response, £82.2bn has been used to support job retention through furloughing, which has received the majority of government's funding. Other spending includes loans and grants for businesses, a report from the National Audit Office published on 21 May shows. The government’s loan scheme has provided almost £15bn in loans to over 304,000 businesses, according to the Treasury.