Thirty-third Report: Covid-19: Bounce Back Loan Scheme

Select Committee
Public Accounts Committee HC 687 16 December 2020
Report Status Government responded
Conclusions & Recommendations 21 items (15 recs)
Source View on Parliament website
Government Response (AI assessment · 21 of 21 classified)
Accepted 10
Accepted in Part 1
Acknowledged 3
Not Addressed 4
Rejected 3
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Thirty third report from Session 2019-21 · published 25 Mar 2021
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Recommendations & Conclusions

1 results
4 Recommendation Accepted in Part
Government’s plans for managing risks to the taxpayer—from both fraud and borrowers who are unable...
Recommendation
Government’s plans for managing risks to the taxpayer—from both fraud and borrowers who are unable to repay loans—are woefully under-developed. Government does not have a counter-fraud strategy for the Scheme and has not identified what types of fraud it will … Read more
Government Response Summary
The government agreed with the committee's broader recommendation on balancing taxpayer interests and protecting against fraud. It outlined measures taken, including Cifas implementation and NATIS involvement for serious fraud cases, and confirmed criminal action for these. However, it did not commit to the British Business Bank providing a fraud estimates report within two weeks and maintained that self-certification remains appropriate for the current scheme.
HM Treasury
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