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Select Committee · Public Accounts Committee

BEIS Annual Report & Accounts 2021-22

Status: Closed Opened: 8 Nov 2022 Closed: 27 Jun 2023 6 recommendations 18 conclusions 1 report

The Committee will take evidence from banks which have lent money as part of the Bounce Back Loan Scheme, and afterwards question senior officials at the Department for Business, Energy and Industrial Strategy on their annual report and accounts for 2021-22 , including the performance of COVID support schemes such as the Bounce Back loans …

Clear

Reports

1 report
Title HC No. Published Items Response
Forty-Fifth Report - Department for Business, Energy & Indu… HC 1254 26 Apr 2023 24 Responded

Recommendations & Conclusions

2 items
8 Conclusion Forty-Fifth Report - Department for Bus… Deferred

High levels of unrecovered fraud and error found in first wave business grants.

The Department estimated fraud and error levels of £985 million were contained in the £11.7 billion grant funding provided for the first wave of business support grant schemes (Small Business Grant Fund; Retail Hospitality and Leisure Grant Fund; and Local Authority Discretionary Grant Fund). The estimated fraud and error in …

Government response. The government agrees with the committee's observations but states that recovery of irregular payments for early grant schemes is largely unrealistic. It has initiated a review by a Non-Executive Director into ongoing assurance, reconciliation, and recovery activity, with a target …
HM Treasury
9 Conclusion Forty-Fifth Report - Department for Bus… Deferred

Delayed recovery of fraud and error in business grants risking further losses.

Of the £985 million estimate of fraud and error for the first wave of business support grant schemes, the Department has recovered £5.3 million through NATIS and local authorities.16 This represents 0.7% of the fraud and error estimate. The Department explained that it will further refine the fraud and error …

Government response. The government agrees with the committee's concern but states that recovery for many irregular payments is unrealistic due to various factors. It has initiated a review by a Non-Executive Director into assurance, reconciliation, and recovery activity, expected to conclude by …
HM Treasury

Correspondence

3 letters
DateDirectionTitle
23 Jan 2023 — Correspondence from Sarah Munby, Permanent Under-Secretary of State, re update …
22 Nov 2022 — Correspondence from Sarah Munby, Permanent Under-Secretary of State, Department…
22 Nov 2022 — Correspondence from Sarah Munby, Permanent Under-Secretary of State, Department…