The Independent is committed to delivering comprehensive journalism on vital issues like reproductive rights, climate change, and financial accountability, exemplified by its investigation into the £2 billion loss from the bounce back loan scheme. A recent report by the Public Accounts Committee revealed serious oversight flaws in the scheme, which offered quick financial aid during the pandemic. With only about £130 million recovered so far, the government is criticized for insufficient measures to pursue fraudulent cases, failing to address an estimated £1.9 billion in taxpayer losses.
The Public Accounts Committee criticized the government's response to the recovery of nearly £2 billion in taxpayer losses from the Covid-19 bounce back loan scheme.
Introduced to support businesses during the pandemic, the bounce back loan scheme's design lacked oversight, leading to significant losses due to fraud.
Collection
[
|
...
]