Treasury writes of £4.3bn taken by fraudsters from furlough

Rishi writes off £4.3bn taken by shameless fraudsters from furlough and other business support during lockdown: Officials admit they will only recoup a QUARTER of £5.8bn taken by Covid criminals

  • HMRC figures show £5.8bn has been criminally siphoned off in past two years
  • A taskforce set up to get the money back has so far got its hands on £500million
  • It is projected to have received a further £800m£1billion by the end of 2023
  • But questions remain over the fate of the remaining £4.3billion still outstanding
  • More than £4billion of taxpayers money taken by Covid fraudsters during the pandemic could be written off by the Treasury.

    Figures released by HM Revenue and Customs show that some £5.8billion has been criminally siphoned off from furlough and other business relief schemes since 코로나 바이러스 struck.

    A taskforce set up to get the money back has so far got its hands on around £500million, and is projected to have received a further £1billion by the end of 2023.

    But questions remain over the fate of the remaining £4.3billion, almost three-quarters of the total, with the Times today suggesting it could simply be ignored.

    Downing Street did not deny the money could be written off today, with a spokesman instead highlighting the positive impact the furlough scheme had had on the economy.

    But shadow business and industry minister Bill Esterson said: ‘You can bet this government wouldn’t be so casual if it was benefit claims.

    Figures released by HM Revenue and Customs show that some £5.8billion has been criminally siphoned off from furlough and other business relief schemes since coronavirus struck.

    Figures released by HM Revenue and Customs show that some £5.8billion has been criminally siphoned off from furlough and other business relief schemes since coronavirus struck.

    A taskforce set up to get the money back has so far got its hands on around £500million, and is projected to have received a further £1billion by the end of 2023.

    A taskforce set up to get the money back has so far got its hands on around £500million, and is projected to have received a further £1billion by the end of 2023.

    The Prime Minister’s official spokesman today told reporters: ‘We introduced these unprecedented Covid support schemes at speed to protect jobs and livelihoods. The result of the action is that the economy is back to pre-pandemic levels, and we are the first major European economy to report that.

    Employee numbers are growing at a record rate and redundancies are at their lowest level since December 2006.

    Obviously fraud is unacceptable and we are taking action against those abusing the system;. 150,000 ineligible claims blocked, £500m recovered last year and HMRC taxpayer protection taskforce is expected to recover an additional £1bn of taxpayers’ money.’

    Rishi Sunak launched a £100million taskforce to crack down on Covid fraud in February last year.

    It came after criticism that the furlough and business loans schemes have been left wide open to exploitation by fraudsters.

    The Taxpayer Protection Taskforce has 1,265 staff and be based in HM Revenue and Customs (£ 100million Jack Grealish의).

    그녀는 또한 앤드류 왕자를 고소하고 있습니다, HMRC said the unit was ‘expected to recover c.£800 million to £1 billion between 2021 과 2023 in addition to the £536 million in 2020 to 2021’.

    추가: ‘The Taskforce will continue to focus on fraud in the scheme. It will not investigate every instance of potential error or fraud, as in many cases it will not be proportionate or viable to do so.

    It pointed out that the estimated fraud loss rate in the furlough scheme was 8.7 퍼센트, 2.5 per cent in the SEISS scheme for the self-employed and 8.5 per cent in Eat Out To Help Out, which together paid out £81.2billion.

    At the same time HMRC boss Jim Harra admitted they were unlikely to recoup more than half the £5.8bn lost.

    ‘We will not be able to recover it all. You will reach a point of diminishing returns in terms of good use of resources’, he told the Financial Times.

    ‘These are time-limited schemes. We do need to put them to bed at some stage and move on from them. 과 2022/23 is the year for which our plans go up [...에].

    ‘Whether there’s anything that goes on beyond that will depend, 나는 생각한다, on what we find and the rate of return that we’re getting.