Asked by: Baroness Buscombe (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government when they will publish a data dashboard showing the Tier 1 bank's management performance of Bounce Back Loans.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The British Business Bank is responsible for the administration of the Bounce Back Loan Scheme. The Bank intends to publish data on the performance of each scheme, including levels of prevented and suspected fraud.
The data will also include lender-by-lender information on the number and value of original facilities, and the number and value of claims settled under the terms of the scheme Guarantees.
This data will be made available to the public via the Bank website in the near future.
Asked by: Baroness Buscombe (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government how much they paid out to Bounce Back Loan Scheme lending banks under the government-backed guarantee between 1 January 2022 and 30 April; and what percentage of this figure was attributed to fraud.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Data relating to settled claims and suspected fraud within the Bounce Back Loan Scheme is captured on a cumulative basis.
As of 31 March 2022, c.£351 million in settled claims on the scheme guarantee have been paid to lenders, of which c.£72 million [20%] have a suspected fraud marker as reported by lenders to the British Business Bank.
The lenders under the Scheme are not law enforcement agencies, it is the courts who determine whether or not a fraud has been committed. These statistics are an indicator of levels of suspected fraud rather than actual, proven levels.
Asked by: Baroness Buscombe (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government how much HM Treasury has paid out to Bounce Back Loan Scheme (BBL) lending banks under the state guarantee up to 31 January 2022; and what percentage of this figure was attributed to losses from fraud.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
As of the end of December 2021, the British Business Bank, on behalf of government, has settled guarantee claims by lenders in relation to the Bounce Back Loan Scheme of £70m. Of this, less than 20% was flagged by lenders as suspected fraud. Figures for January 2022 are currently not available.