In a move that is likely to rattle the banking sector and potentially restrict access to credit, the government is considering barring the blacklisting of consumers by credit and service providers during the state of national disaster.

The government says it wants to protect individuals who are suffering enormous hardship due to the Covid-19 pandemic and national lockdown that is pushing the economy into its worst contraction in about a century, bringing with it retrenchments and pay cuts.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now