UK Inquiry Tracker

Covid-19: Cost tracker update (+ Spending Review)

Public Accounts Committee Closed Inquiry

Opened: 20 Oct 2021 Closed: 26 Apr 2022 Parliament page

The Committee will question senior Treasury officials on the latest figures for the total cost of the UK national response to the Covid-19 pandemic so far , and how this impacts and interacts with the much-anticipated cross-Government Spending Review, with the Autumn Budget to be delivered on October 27 . … Read more

8 Recommendations

11 Conclusions

1 Report

1 Letter

Activity timeline 3 events

28 Apr
2022

Report published

Treasury minutes: Government response to the Committee of Public Accounts on the Thirty Eighth report from Session 2021-22

21 Apr
2022

Correspondence

Correspondence from Sir Tom Scholar, Permanent Secretary, HM Treasury, re COVID-19 cost tracker update (Session 2021-22), dated 31 March 20…

23 Feb
2022

Report published

Thirty-Eighth Report - COVID-19 cost tracker update

Reports 1 report · click to expand

Title	HC No.	Published	Items	Response
Thirty-Eighth Report - COVID-19 cost tracker update	HC 640	23 Feb 2022	19	Responded

Recommendations & Conclusions

19 results

2 Recommendation Accepted

Thirty-Eighth Report - COVID-19 co…

We are concerned that HM Treasury does not intend to adequately monitor and update the...

We are concerned that HM Treasury does not intend to adequately monitor and update the ongoing cost of COVID-19 to the taxpayer. Monitoring the forecast costs and actual spend related to COVID-19 is crucial for Parliamentary scrutiny and for holding … Read more We are concerned that HM Treasury does not intend to adequately monitor and update the ongoing cost of COVID-19 to the taxpayer. Monitoring the forecast costs and actual spend related to COVID-19 is crucial for Parliamentary scrutiny and for holding departments to account for their use of taxpayers’ money. The cost-tracker has enabled Parliament and the public to have full visibility over what government has spent and committed to spend in response to the pandemic and the financial risks to the public purse. Government estimates that it will lose £21 billion as a result of loans that it does not expect will be repaid. HM Treasury will know more about how much will be lost in connection to these loan schemes over time as more repayment data is received. HM Treasury has committed to conduct a routine review of material changes to the estimated costs, including updating the costs associated with the COVID-19 loan schemes and some public services measures, where these can be reliably attributed to COVID-19. However, it has not specified which elements of government’s response to the pandemic will be included in these updates, what will constitute material changes to estimated costs, or how the costs of those elements which are excluded will continue to be monitored and Departments held to account for spending taxpayers’ money. From 2022–23 onwards, funding to tackle issues arising from COVID-19 will not be ring-fenced. Some of the costs currently included in the cost tracker will form part of departments’ ongoing activities. 6 COVID-19 cost tracker update Recommendation: As part of its Treasury Minute response, HM Treasury should explain how, when, and which subsets of the data captured by the NAO in the COVID-19 cost tracker it will continue to update. This should also address how loan book commitments, including those made under the Culture Recovery Fund, and any associated liabilities, such as estimated write-off costs under the Bounce Back Loans Scheme, will be moni Show less

Government Response

The Treasury will publish annual updates on the COVID-19 cost tracker data for the next two years, focusing on material changes reliably attributed to COVID-19, and will then review the need for further updates.

HM Treasury

Covid-19: Cost tracker update (+ Spending Review)

Activity timeline 3 events

Reports 1 report · click to expand

Recommendations & Conclusions

We are concerned that HM Treasury does not intend to adequately monitor and update the...

HM Treasury does not yet know how much money has been lost to fraud and...

HM Treasury has not set out what lessons it has learnt from the government’s response...

Based on the fourth iteration of the COVID-19 cost tracker (the cost tracker) published by...

In our evidence session on 17th November 2021, we observed that the cost tracker had...

We noted that the public inquiry into government’s handling of COVID-19 was due to start...

HM Treasury told us that, during the pandemic, it had made some very significant sums...

HM Treasury told us that one element of the cost tracker it would definitely continue...

Across government’s response to COVID-19, there are also other substantial loan books that have no...

In its letter to us after our evidence session, HM Treasury recognised the helpful role...

We examined fraud and error across government in 2021.

We asked HM Treasury what its current assessment of fraud and error across government was,...

In our report in June 2021, we recommended that HM Treasury and the Cabinet Office...

The COVID-19 pandemic placed increased pressure on government departments to respond to a crisis while...

As part of our previous examination of the cost tracker in May 2021, we concluded...

We therefore asked HM Treasury what it was doing to identify and address some of...

We examined the initial lessons that can be learned from government’s response to the pandemic...

HM Treasury informed us that it had conducted a lessons learned exercise with Accounting Officers...

We asked HM Treasury what it was doing to ensure that, if emergency support such...

Government Response AI assessment · 9 of 8 classified

Correspondence 1 letter