17 Acknowledged

The Department is responsible for government’s business support grant schemes which have has provided local...

Conclusion
The Department is responsible for government’s business support grant schemes which have has provided local authorities with £25 billion of COVID-19 grant funding to allocate to eligible businesses since March 2020. Furthermore, the Department provided more than £38 billion for the Bounce Back Loans Scheme, operated by the British Business Bank through commercial lenders, since May 2020.35
Government Response Summary
The government acknowledges the Department's responsibility for business support grant schemes and the Bounce Back Loans Scheme.
Government Response
Acknowledged
HM Government Acknowledged
The Department was responsible for government’s business support grant schemes that provided local authorities with nearly £25 billion of COVID-19 grant funding to allocate to eligible businesses since March 2020. Furthermore, the Department provided more than £38 billion for the Bounce Back Loans Scheme, operated by the British Business Bank through commercial lenders, since April 2020.
Source
Committee Public Accounts Committee
Inquiry BEIS Annual Report & Accounts 2021-22
Report Forty-Fifth Report - Department for Business, Energy & Industrial Strategy Annual Report and Accounts 2021–22 26 Apr 2023 HC 1254
View on Parliament website
Addressee Bodies
HM Treasury
Timeline
Recommendation age 3.1 yrs
Report published 26 Apr 2023