Fraud in Covid bounceback loan scheme not being addressed, say MPs

Public accounts committee say government must devote more resources to recovering nearly 5bn

MPs have criticised the government for its unacceptable" failure to draw up plans to recover nearly 5bn taken from the coronavirus emergency bounceback loan scheme by fraudsters.

The government must give more resources to counter-fraud agencies and account properly for how much of the money will be lost forever, according to a report published on Wednesday by parliament's influential public accounts committee.