Chancellor’s pledge over those exploiting Covid support cash
THE GOVERNMENT is “going after each and every person who we suspect of defrauding the taxpayer”, Chancellor Rishi Sunak has claimed.
Mr Sunak’s warning came after Shadow Chancellor Rachel Reeves raised concerns about fraudsters exploiting Covid-19 support grants and asked him to clarify the “total amount lost to fraud underwritten by the Treasury, and the amount recovered to date”.
MPs later backed a non-binding Labour motion which called on the Government to set out a “strategy to recover all taxpayers’ money obtained by criminal groups” and to “fully engage with a thorough National Crime Agency investigation into all issues related to the fraudulent exploitation” of the support schemes.
Ms Reeves, the MP for Leeds West, told MPs at Commons Treasury questions: “Schoolboy errors, a combination of arrogance, indolence and ignorance, nothing less than woeful. Not my words, but the words of former Treasury Minister Lord Agnew.
“£4.3bn of taxpayers’ money written off as a result of the Chancellor’s fraud failures, 1,000 loans to companies that weren’t even trading at the start of the pandemic, £50,000 awarded to a person with 48 criminal convictions, £25,000 to a drugs gang. “Is the Chancellor really saying that examples like this strike the right balance between getting money to the businesses that are needing it and looking after public finances, and will he inform the House of the total amount lost to fraud underwritten by the Treasury, and the amount recovered to date?”
She also told MP the public “want their money back”.
Mr Sunak said: “Nothing has been written off in that regard, we are going after each and every person who we suspect of defrauding the taxpayer.
“The original estimate of fraud, and it was an estimate independently provided of £4.9bn, has actually already been revised down by a third since it was first published thanks to the actions that we are taking.
“She asked how much has been paid out already, I think I can confirm for her the sum total to date is £13m.”
Treasury Minister Lord Agnew quit his role in the House of Lords last month and attacked the Government’s handling of the fraudulent business loans.
We are going after each and every person who we suspect. Chancellor Rishi Sunak on pursuing those suspected of cheating over support grants.