Select committee: Public Accounts Committee
Conclusion 17
56th Report - BBC Accounts and Trust Statement 2024–25
Published 21 Nov 2025
Addressed to HM Treasury
Public Accounts Committee BBC Accounts and Trust Statement 2024-25 All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The BBC explained that its commercial strategy involved balancing reinvestment for growth with delivering returns to support PSB.34 It told us that it is using its increased borrowing capacity, within an overall debt limit of £3 billion, to fund acquisitions and expansion.35 At 31 March 2025, BBC Group net debt stood at £1.6 billion, within this limit.36 The BBC told us that borrowing was sometimes necessary to compete internationally.37 However, it confirmed that any decisions to borrow money were carefully checked to make sure the BBC will be able to pay back what it owed, and that the expected benefits were worth the cost.38
From: Public Accounts Committee, 56th Report - BBC Accounts and Trust Statement 2024–25 (HC 1230), 21 November 2025
Government response
Latest Treasury Minutes progress report to the Committee of Public Accounts on the Fifty-sixth Report of Session 2024-26
The government responded to the whole report on 4 June 2026 (deadline 21 January 2026).
Treasury minutes: Government response to the Committee of Public Accounts on the Fifty-sixth report from Session 2024-26
Published 19 January 2026.
Summary written by Accountability Index from the government's response. It is not the government's own words.The BBC's response agrees with some recommendations, partially agrees with others and disagrees with the recommendation to report on targets for reducing "no-licence needed" declarations and evasion.
- On licence fee collection, the BBC agrees with modernising collection and enforcement for online viewing, but says it is not "currently practical to set a firm timeline".
- It disagrees with reporting progress against targets for "no-licence needed" declarations and evasion, saying "an evasion target is not considered appropriate" and a target for NLNs would not be appropriate.
- On digital licences, the BBC agrees and "will consider the regulatory aspects and practicalities" of making an e-licence the default, with an update in the Licence Fee Trust Statement for 2025/26.
- On commercial returns, the BBC partially agrees, saying it "will ensure" BBC Commercial's overall returns including dividends are published annually in its Annual Report and Accounts, with a target date of 2026.