Yesterday, Lord Agnew (me neither) resigned as Minister for Ant-Fraud stating, it was separate from the wider issues seen in Westminster, neither was it against the Prime Minister.
He called anti fraud measures on pandemic loans “desperately inadequate” - “oversight by both BEIS & British Business Bank ..nothing less than woeful”.. “HMT has no knowledge or little interest in consequences of fraud”
“Schoolboy errors were made, for example allowing over 1000 companies to receive Bounceback loans who were not even trading when Covid struck”
“… simply failed to understand agents hold in stock companies with earlier creation dates…”
“Ive been arguing with Treasury and BEIS officials for two years to get them to lift their game, I have mostly been unsuccessful”
“There’s a penny of income tax waiting to be claimed if we just woke up” but theres a “combination of arrogance, indolence, and ignorance” says minister as he resigns, saying taking fraud seriously would give a sporting chance of some tax cuts… “Thank you & goodbye!”
Further detail in Lord Agnew’s resignation letter…
“Last week a foolish decision was made to kill off the prospect of an economic crime bill…” which would have helped tackle fraud and save taxpayers money, he says…
On top of that, Lord Agnew recommended six companies to use the "VIP lane" for COVID contracts, some of which the Chancellor was very to write off £4.5 billion this week, while the Government you might remember removed the £20 uplift in Universalt Credit last year.
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