Thirty-third Report: Covid-19: Bounce Back Loan Scheme
Select Committee
Public Accounts Committee
HC 687
16 December 2020
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
Recommendations & Conclusions
4 results
6
Recommendation
Not Addressed
Government has no apparent plans to measure the Scheme’s impact, including identifying how many businesses...
Recommendation
Government has no apparent plans to measure the Scheme’s impact, including identifying how many businesses have been unable to access support. The Department indicates that its initial barometer for success was delivering cash to as many businesses in need, as …
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Government Response Summary
The government's response provides context on the Bounce Back Loan Scheme and the committee's report, but it does not address the specific recommendations regarding measuring the scheme's impact, establishing performance measures for new schemes, or analyzing the lending market.
HM Treasury
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1
Conclusion
Not Addressed
On the basis of a report by the Comptroller & Auditor General (C&AG), we took...
Conclusion
On the basis of a report by the Comptroller & Auditor General (C&AG), we took evidence from HM Treasury, the Department of Business, Energy & Industrial Strategy (the Department) and the British Business Bank (the Bank) on the Bounce Back …
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Government Response Summary
The government's provided response discusses cash access, future legislation, and cashback facilities, entirely unrelated to the committee's introductory conclusion about the Bounce Back Loan Scheme.
HM Treasury
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13
Conclusion
Not Addressed
The Bank told us that lenders are responsible for the Scheme’s fraud management.
Conclusion
The Bank told us that lenders are responsible for the Scheme’s fraud management. The Bank does, nevertheless, have a weekly lender fraud prevention collaboration working group, as well as conducting ‘data-analytics’ work with the Cabinet Office.32 Lenders are responsible for …
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Government Response Summary
The government's provided response addresses a different Public Accounts Committee recommendation (3b) regarding balancing taxpayer and business interests and reliance on self-certification, not the preceding conclusion #13 on fraud management data.
HM Treasury
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16
Conclusion
Not Addressed
After the initial interest-free period, borrowers will need to make repayments (capital and interest) to...
Conclusion
After the initial interest-free period, borrowers will need to make repayments (capital and interest) to the end of the loan period, in line with their loan agreement.40 There is a high likelihood that some businesses who wish to re-pay the …
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Government Response Summary
The government's response addresses a different recommendation regarding the finalisation and uniformity of recovery rules for overdue loans, and therefore does not engage with the committee's conclusion about the high likelihood of businesses struggling to repay Bounce Back Loans.
HM Treasury
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