Thirty-Eighth Report - COVID-19 cost tracker update
Select Committee
Public Accounts Committee
HC 640
23 February 2022
Government Response (AI assessment · 9 of 19 classified)
Accepted
4
Recommendations
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Conclusions (3) Observations and findings — click to expand
6
Conclusion
Acknowledged
We noted that the public inquiry into government’s handling of COVID-19 was due to start in the spring or summer of 2022, and that understanding how money was being spent was likely to be an important part of this inquiry. We therefore asked HM Treasury how it would ensure that …
Government Response Summary
Acknowledges that the COVID-19 cost tracker has increased transparency and that the Treasury has committed to continue to conduct a routine review of these costs and to provide public updates.
7
Conclusion
Acknowledged
HM Treasury told us that, during the pandemic, it had made some very significant sums of money available at short notice in conditions of great uncertainty. This funding was ring-fenced so that, if it was not needed for the intended purpose, it would not be spent on other things.13 HM …
Government Response Summary
Acknowledges that the COVID-19 cost tracker has increased transparency and that the Treasury has committed to continue to conduct a routine review of these costs and to provide public updates.
8
Conclusion
Acknowledged
HM Treasury told us that one element of the cost tracker it would definitely continue to monitor and report on was the cost of the various loan and grant schemes where the true cost will only be known over time.18 Government has guaranteed or issued loans worth a total of …
Government Response Summary
Acknowledges that the COVID-19 cost tracker has increased transparency and that the Treasury has committed to continue to conduct a routine review of these costs and to provide public updates.