Recommendation 20

The National Audit Office has previously recommended that the Bank focus more 41 UK Finance Written Evidence, para 27 42 Q 49 43 Q 70; C&AG’s Report, para 3.8 44 Q 72 45 Q 64 46 Qq 70, 71 47 Qq 48, 71 48 Qq 19, 26, 27 49 C&AG’s Report, paras 14, 1.11 50 Q 19 51 Qq 37, 44 Covid-19: Bounce Back Loan Scheme 13 closely on the cost effectiveness of its support schemes. During its audit the NAO found that the bank did not bring together information on costs, activity, and outcomes to be able to effectively measure impact and evaluate success.52 HM Treasury confirmed to us that, in preparation for future schemes, they will look at the lessons to be learned from this Scheme.53