Second Labour MP is suspended amid claims his firm folded without repaying a £50,000 taxpayer-backed Covid loan

Perran Moon, the Labour MP for Camborne and Redruth, co-owns Autoswot, a training firm that borrowed the maximum £50,000 bounce back loan. The business stopped trading at the end of 2022, and its most recent filed accounts date from June 2021. Moon has referred himself to the party and maintains the application was made 'in good faith'. He is the second such case, following Bayo Alaba, who was suspended in August over a Covid-era loan.

Taxpayers guaranteed every bounce back loan, and fraud and error cost up to £2.8bn.

Moon says Companies House assured him three times that no accounts were needed.

An attempt to wind up Autoswot in November 2022 was blocked.