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  5. Only £10m of £2.2bn in fraudulent Covid loans returned

Бизнес

Only £10m of £2.2bn in fraudulent Covid loans returned

Rishi Sunak's Eat Out to Help Out scheme cost the taxpayer £849 million. Credit: Twitter

False claims, forged records, fictitious directors of companies and persons named without their consent can be used to commit crimes. Although it has been a criminal offense to file false information with Companies House since 2009, only one conviction has been issued in 14 years.

BEIS has since been disbanded and divided into three separate divisions.

A Business and Trade spokesman said: «Our Covid-19 lending schemes have provided a lifeline to nearly 1.7 million businesses across the UK and protected up to 2.9 million jobs.» have been fully repaid, the £24bn loans are being repaid on schedule and we are fighting fraud by working with lenders, law enforcement and other partners to get taxpayer money back.”

The committee's findings were presented in a separate report from the Institute for Government (IfG) think tank, which warned that the Treasury Department was taking a «stealthy» approach during the pandemic, preventing the government from responding in 2020.

< p>The Treasury Department's «tendency to be optimistic» led to its «Eat to Help» policy, which fell short of scientific advice and was later blamed for contributing to the second wave of Covid in the summer of 2020.

Suffered because of the experience of publishing analytical works. During the Brexit referendum campaign, the Treasury Department limited engagement with external experts, deliberately chose not to share some analysis with the government, and vetoed the social and economic equivalent of SAGE, according to IfG's report, according to IfG's report.

Spokesperson Her Majesty's Ministry of Finance. said: “During the pandemic, the Treasury acted quickly to prevent a catastrophic rise in unemployment. Without holidays and other Covid support schemes, millions of people would lose their jobs and their businesses.

«We take note of this report and will state the Treasury Department's position on the official Covid investigation.»

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