A report highlights losses of £10.9 billion from public funds in the UK due to fraud and errors during the Covid pandemic.
Sanziana Georgescu
Economy
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A recent report revealed estimated losses of £10.9 billion from public funds, caused by fraud, abuse, and errors during the economic support measures implemented during the Covid lockdowns. Mr. Hayhoe, who led the investigation, emphasized that although £1.8 billion has been recovered, many losses are now impossible to recover. Among the main causes are weak accountability, poor quality data, and inefficient contracts.
The report highlighted issues in the procurement of personal protective equipment (PPE), where £13.6 billion was spent, but £11 billion worth of items remained unused. Additionally, loan schemes for small businesses have been criticized for vulnerabilities to fraud. In response, Chancellor Rachel Reeves promised to recover the lost money and take action against fraud. The government has launched a voluntary fund return scheme, without questions, until the end of the year.
The report highlighted issues in the procurement of personal protective equipment (PPE), where £13.6 billion was spent, but £11 billion worth of items remained unused. Additionally, loan schemes for small businesses have been criticized for vulnerabilities to fraud. In response, Chancellor Rachel Reeves promised to recover the lost money and take action against fraud. The government has launched a voluntary fund return scheme, without questions, until the end of the year.
Sources
Covid scheme fraud hit £10.9bn but much 'beyond recovery', report says
Covid-19 fraud cost taxpayers £10.9bn but ‘much beyond recovery’, report finds
UK fraud prevention 'still lacking' after Covid-related scams and errors cost £11bn
Fraudele legate de COVID au costat Marea Britanie aproape 11 miliarde de lire sterline
Marea Britanie a calculat că fraudele legate de COVID au costat-o aproape 11 miliarde de lire sterline
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