Eldorado Posted July 30, 2022 #1 Share Posted July 30, 2022 Rishi Sunak is facing fresh questions over Covid fraud after i analysis uncovered disturbing evidence of how the Bounce Back Loans scheme he introduced for struggling businesses has been abused. Mr Sunak’s leadership campaign has frequently cited the success of the measures he put in place to protect the economy during the pandemic. But the extent of the mismanagement of the £47bn Bounce Back is revealed in financial misconduct cases that show the maximum amount was often given to clearly ineligible companies. Government accountants have estimated that a total of nearly £3.5bn was wrongly claimed. i can reveal that one company director, who was subsequently disqualified for 11 years, was able to take out a loan for £50,000 – the maximum amount – despite his packaging business only having a turnover of £354. MSN i News 1 Link to comment Share on other sites More sharing options...
acute Posted July 30, 2022 #2 Share Posted July 30, 2022 The Tories are mired in corruption up to their eyeballs! (Oops! Spoiler alert. ) 1 Link to comment Share on other sites More sharing options...
Eldorado Posted August 2, 2022 Author #3 Share Posted August 2, 2022 More than 16,000 businesses which took out a type of government-backed Covid loan have gone bust without paying the money back, the BBC has found. Hundreds of directors, who got loans they were not entitled to, have also been disqualified. The cost to the taxpayer of these insolvencies could be as much as £500m, and is likely to grow as more companies go under. Questions are now being asked about what is being done to recoup the money. https://www.bbc.co.uk/news/business-62338308 Link to comment Share on other sites More sharing options...
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