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Bounce Back Loans Scheme: Follow-up

Inquiry

In December 2020 the Committee published its first report on the “Bounce Back Loan” Scheme offered to registered - and unregistered - small businesses to help them get through and recover from Government-mandated closures and loss of business revenues during lockdown.

At that time the PAC concluded that billions of pounds of taxpayers’ money was at risk due to fraud in the 100% guaranteed loans, where even the most basic checks and assurances had been dropped in the name of getting the loans out quickly.

The Committee has since reported several times on failures in the Government’s balancing of risk and expedience across many of its Covid support schemes, but the National Audit Office has described the BBLS as “government’s largest and most risky business loan support scheme”. Official calculations and estimates of how much will be lost to fraud and default in the BBLS are ongoing.

In this follow up inquiry, the Committee will question senior officials at BEIS and the Treasury on what government is doing to protect public money in relation to the Scheme; how many loans were made by the time the Scheme closed; how many businesses have begun repaying loans; the counter-fraud activity taking place, and the levels of identified fraud; and the latest Scheme estimates of potential fraud and credit losses.

If you have evidence on any of these issues, please submit it here by Monday 3rd January 2022

This inquiry is no longer accepting evidence

The deadline for submissions was Monday 3 January 2022.

Reports, special reports and government responses

View all reports and responses
Fiftieth Report - Bounce Back Loans Scheme: Follow-up
Inquiry Bounce Back Loans Scheme: Follow-up
Committees Public Accounts Committee
HC 951
Report

Oral evidence transcripts

View all oral evidence transcripts
10 January 2022
Inquiry Bounce Back Loans Scheme: Follow-up
Committees Public Accounts Committee
Oral Evidence
BLS0001 - Bounce Back Loans Scheme: Follow-up
Witnesses Equifax Ltd
Committees Public Accounts Committee
Written Evidence
BLS0002 - Bounce Back Loans Scheme: Follow-up
Witnesses College of Business, Law and Social Sciences, University of Derby, and Professor Paul Nightingale (Professor at Science Policy Research Unit, University of Sussex Business School)
Committees Public Accounts Committee
Written Evidence

Contact us

  • Email: pubaccom@parliament.uk
  • Phone: 020 7219 3273 (General enquiries). For all media enquiries please contact Jessica Bridges Palmer bridgespalmerj@parliament.uk / 07917488489
  • Address: Public Accounts Committee, House of Commons, London, SW1A 0AA