1/ A lot of people are concerned about fraud in our Covid support measures and they’re absolutely right to be. No, I’m not ignoring it, and I'm definitely not ‘writing it off’ 👇
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2/ Clearly criminals have sought to exploit our support schemes. We’re going to do everything we can to get that money back and go after those who took advantage of the pandemic.
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3/ We've invested over £100m in a Taxpayer Protection Taskforce with 1,265 staff to combat fraud. That's one of the largest and quickest responses to a fraud risk by @HMRCgovuk ever. 13,000 one-to-one enquiries were opened in 2020/21 and HMRC wrote to 75,000 people.

Jan 26, 2022 · 1:38 PM UTC

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4/ The vast majority of people did the right thing but we are still addressing incorrect claims. Last year we stopped or recovered nearly £2.2 billion in potential fraud from Bounce Back Loans and £743m of overclaimed furlough grants.
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5/ It’s worth also remembering the context at the time. Businesses on the brink of collapse needed support quickly, something that many, including Labour, were calling for. We delivered that support in record time with Furlough and our loan schemes saving thousands of jobs.
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6/ Some pointing at covid fraud now are the same people who insisted, at the time, support should not be means-tested at all. Thanks to the action we took we’re now seeing a thriving labour market and the economy has now grown above pre-pandemic levels, faster than predicted.
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It took a full yr before u got round to setting this up & it's only expected to recover £1bn. Even if PWC are right that fraud accounted for *only* 7.5% of loans that's still at least £2bn being w/off due to fraud. NAO think it'll be nearer £4.3bn (so £3.3bn if £1bn reclaimed).
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& of course that's just the small loan scheme. There r bound to be many billions more of fraud from larger business loan scheme & furlough. That £1bn above covers ALL schemes. When added to loans irrecoverable due to businesses going under costs will prob run to 10s of billions.
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Was it a tricky sponge or heavy fruit?
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It wasn’t handed out on street corners. They completed traceable forms. It should be the easiest tracing of debt ever and not need more millions to do it. And you’re only reacting and U turning because of pressure from the rest of us - again
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You and your stable doors...
Replying to @SebastianEPayne
Agnew said that BEIS only employed two counter-fraud officials at the start of the pandemic, “neither of who were experienced in the subject”. He alleged that they refused to engage with the Cabinet Office’s counter fraud team. ft.com/content/805fa759-fabc…
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You mean the tax payer invested, without consent of where their taxes get appropriated. We know.
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Tax payer gambled a crap load of money!! In the hope to get some back!! Likely that he’s contracted a few mates to assist with the process!!
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