We asked the Department whether it currently had the information that it needed to determine whether the Scheme had been a success. The Department told us that it considered that the quality of information that it had about what was currently happening with the Scheme was “very good”, but there was “very limited information” to tell whether the Scheme was working over the longer term. It explained that “it is very early days” given the 6 or 10-year term of the loans and the limited repayment data available so far.47 While most borrowers have started to repay loans, not all are in repayment as some borrowers took a payment holiday. The Department estimated that 31% to 48% of loans will not be repaid as of 31 March 2021, with its ‘most likely’ estimate being £17 billion worth of loans. This is a narrowing on the estimate in its 2019–20 Annual Report & Accounts that stated up to 60% of loans would not be repaid.48 The Department acknowledged that it will be able to judge whether the Scheme has made a difference as it sees firms’ survival rates over the longer term.49