Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he has taken in response to the letter he received on 16 June 2020 from the Fraud Advisory Panel.

The Fraud Advisory Panel wrote to the Chancellor asking for the details of borrowers under the Bounce Back Loan Scheme to be published, a central repository of loans and grants to be created, and for additional measures to be introduced to tackle fraud.

The British Business Bank, as administrators of the loan scheme, collects over 70 data points across ever single loan. Data on applications and loans approved under the scheme was published regularly while the scheme was open, and data on the repayment of the loans is now being published regularly now that the scheme has closed to new loan applications. However, we have a duty to consider the privacy of businesses accessing these schemes, which is why data has been – and will continue to be - published on an aggregate basis.

We remain committed to cracking down on fraud wherever it arises. But we have always been clear that fraud is unacceptable and that those found to have defrauded the government will face immediate demand for repayment of their loans, and could also face a fine and prosecution. We are taking action against those abusing the system by working closely with law enforcement, counter-fraud agencies and commercial lenders. We will always seek out opportunities where we, collectively, can do more and will continue to prioritise counter-fraud work across the COVID-19 support schemes.