Source · Select Committees · Public Accounts Committee

Thirty-third Report: Covid-19: Bounce Back Loan Scheme

Public Accounts Committee HC 687 Published 16 December 2020

Report Status

Government responded

Conclusions & Recommendations

21 items (15 recs)

Source

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Government Response

AI assessment · 21 of 21 classified

Accepted 10

Accepted in Part 1

Acknowledged 3

Not Addressed 4

Rejected 3

Government response

Treasury minutes: Government response to the Committee of Public Accounts on the Thirty third report from Session 2019-21 · published 25 Mar 2021

Read the government response ↗ Response on the Index

Recommendations & Conclusions

1 item

4 Recommendation Accepted in Part

Government’s plans for managing risks to the taxpayer—from both fraud and borrowers who are unable...

Recommendation

Government’s plans for managing risks to the taxpayer—from both fraud and borrowers who are unable to repay loans—are woefully under-developed. Government does not have a counter-fraud strategy for the Scheme and has not identified what types of fraud it will … Read more

Government Response Summary

The government agreed with the committee's broader recommendation on balancing taxpayer interests and protecting against fraud. It outlined measures taken, including Cifas implementation and NATIS involvement for serious fraud cases, and confirmed criminal action for these. However, it did not commit to the British Business Bank providing a fraud estimates report within two weeks and maintained that self-certification remains appropriate for the current scheme.

HM Treasury

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