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.
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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.

Jan 26, 2022 · 1:38 PM UTC

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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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Replying to @RishiSunak
You seem rattled Chancellor.
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Replying to @RishiSunak
Strong response. What would the cost of inaction have been, the loss of those jobs and businesses would dwarf the cost of fraud? You must pursue the fraudsters vigorously, but let us never forget the jobs and businesses that CIBLS/BBLS and Furlough saved.
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Replying to @RishiSunak
My company took out a loan, thank you, but we had extensive discussion with the provider, RBS, about turnover and set up and we had to provide evidence of this. How come newly set up companies received money? when clearly they could not pass even very simple due diligence checks?
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Replying to @RishiSunak
Some have collapsed and some are struggling still - You dismissed 3.8m excluded as potential fraudsters 🤔
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Replying to @RishiSunak
Did you handle the cake with care?
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Replying to @RishiSunak
Was wifey's business on the rocks?
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Replying to @RishiSunak
You moved many businesses from the brink of collapse to actual collapse. Well done you. 👏👏👏
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Replying to @RishiSunak
Panicking time
Replying to @RishiSunak
its absolutely normal to write off bad loans.. and happens all the time in business. 10% write off and 90% return of loans is a good rate.