I have today updated my practical scheme, amending it to take account of initiatives world wide and many valued comments. This now combines up front 100% guaranteed loans with subsequent grants to cover essential costs. Failure of all UK SMEs can be prevented at a cost of less than 2% of GDP and with an economic benefit of around 15% of GDP. The benefits hugely exceed the costs.
Here is the revised press release
Here is the document describing the revised and updated scheme
This release coincides with a NIESR policy paper no 15, which I expect to be released later today, making the economic case for this scheme. This policy paper once released can be found here on the NIESR webpages.
A supporting spreadsheet for all this analysis can be downloaded from here