Source · Select Committees · Public Accounts Committee
Recommendation 19
19
The Government indicated that its overarching objective was speed.48 No written objectives were outlined at...
Conclusion
The Government indicated that its overarching objective was speed.48 No written objectives were outlined at the inception of the Scheme and no business case was put forward. The Bank, HM Treasury and the Department, did not agree the Scheme objectives until 15 July and there are no plans in place to measure the Scheme’s impact.49 Performance measures, such as the number of insolvencies prevented, have not been decided. The Department believes the Scheme was a success as it reached micro- businesses across regions and sectors.50 However, neither the Department nor the Bank know which businesses would not have survived with or without a pandemic. The Bank informed us that it would seek to identify those businesses during its Scheme monitoring and evaluation.51
Government Response
Not Addressed
HM Government
Not Addressed
6: PAC conclusion: Government has no apparent plans to measure the Scheme’s impact, including identifying how many businesses have been unable to access support. 6: PAC recommendation: The Department and the British Business Bank should set out, within the Treasury Minute response, how they plan on measuring the Scheme’s impact on businesses. They should ensure that any new schemes have, prior to launch, agreed performance measures. The Department should also analyse the impact of the Scheme on the lending market, paying attention to levels of competition and consumer choice. 6.1 The government agrees with the Committee’s recommendation. Target implementation date: Autumn 2021 6.2 The department is actively implementing a Monitoring and Evaluation plan across the three current schemes. As part of this, working with the department, the Bank has put out to tender a contract for an independent evaluator to assess the schemes. This will involve a process evaluation, impact evaluation and economic evaluation, publishing an initial assessment by Autumn 2021. As part of the ongoing analysis of current schemes and potential future schemes, the government is analysing the wider lending market, and the role of the government. The department will actively work to ensure SMART objectives are developed upon for any future schemes, with key metrics and performance measures outlined and agreed.