The Department has not updated its assumptions on borrower failure since December 2022, for example, in light of the number of insolvencies to date.44 We therefore asked what actions it would take for borrowers in financial difficulties. The Department told us it would need to make decisions on a 39 C&AG’s Report, para 14 40 Qq 41, 42; C&AG’s Report, para 21 41 Q 41 42 Qq 21, 32 43 Qq 37–39 44 Qq 92, 93; C&AG’s Report, para 2.20 14 case–by–case basis. It said that it would not hesitate to use all the financial levers it had to get the maximum of taxpayers’ money back. It would, for example, be willing to initiate insolvency procedures for those who started defaulting on their loans, except if there was a policy objective not to because of the impact of the insolvency on the wider sport or cultural area. In such cases, it would go to ministers for a decision.45 The Department told us that it and its loan agents would carry out negotiations on individual insolvencies, supported by external advisers as required, and that the loans team within the Department and loan agents included professionals with experience of insolvency.46