Source · Select Committees · Public Accounts Committee
Recommendation 8
8
The Department’s estimate of the credit loss within the Scheme is also uncertain, as there...
Conclusion
The Department’s estimate of the credit loss within the Scheme is also uncertain, as there is no credit score data for borrowers because this was not a scheme requirement. Repayments will also be affected by future macroeconomic conditions which are themselves uncertain. In addition, because loans did not begin repayment until May 2021 6 C&AG’s Report, Key facts, (page 4), paras 5, 13 7 HM Revenue & Customs, Annual report and accounts 2020–21, Report by the Comptroller and Auditor General, para 3.11. See also Public Accounts Committee, HMRC Annual Report and Accounts 2020–21, HC 641, 1 December