Of the £985 million estimate of fraud and error for the first wave of business support grant schemes, the Department has recovered £5.3 million through NATIS and local authorities.16 This represents 0.7% of the fraud and error estimate. The Department explained that it will further refine the fraud and error estimates for the second and third wave of schemes in the 2022–23 Annual Report and Accounts due to time and data constraints.17 The Department has deferred the wider recovery of irregular payments 11 BEIS, ARA 2021–22, pages 44, 147–151 12 BEIS, ARA 2021–22, pages 148, 150–151 13 Q 108 14 Q 110 15 BEIS, ARA 2021–22, page 148 16 BEIS, ARA 2021–22, page 87–88 17 BEIS, ARA 2021–22, page 150–152 12 Department for Business, Energy & Industrial Strategy Annual Report and Accounts 2021–22 until their assurance exercise for the second and third wave of business support grants has concluded. The longer the Department takes to start the recovery process, the lower the likelihood of successful recovery and potentially the greater the losses to the public purse.18 Lack of curiosity surrounding lenders’ performance in the Bounce Back Loan Scheme