Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much and what proportion of the funds the Exchequer has paid out to lenders because of defaults in the bounce back loan scheme is a result of fraud.

As of the end of December 2021, the British Business Bank, on behalf of government, has settled claims by lenders under the Bounce Back Loan Scheme of £70m. Of this, £13m or 19% were flagged by lenders as suspected fraud.