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We highlighted previously that government needed to use the lessons learned from this Scheme to...
Recommendation
We highlighted previously that government needed to use the lessons learned from this Scheme to inform future schemes.62 We therefore asked the Department about examples of where it had identified and responded to lessons from the Scheme. The Department said that it had implemented learnings in the new Recovery Loan Scheme where it has applied different data requirements on lenders. In addition, the Department explained that it had made “big progress” on its capability on data and data-sharing. It asserted that such data capability would put it in a “stronger position” if it were to do something similar again; for example in adapting ongoing support in local authority grant schemes.63 Alongside having data capability from the start, the Department highlighted that it will retain its “stronger fraud capability” from its initial counter-fraud team of two full-time equivalent staff.64
Government Response
A response document is linked to this report, dated 2 September 2022. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Report
Fiftieth Report - Bounce Back Loans Scheme: Follow-up
27 Apr 2022
HC 951
Addressee Bodies
HM Treasury
Timeline
Recommendation age
4.4 yrs
Report published
27 Apr 2022