Look away Now, Lord Agnew

From yesterday’s Politico London Newsletter

Today’s Times splash has astonishing revelations of the ways people misused and abused the COVID loan scheme that was set up to support businesses during the pandemic, up to the extreme of Border Force officials stopping people carrying suitcases filled with COVID loan cash at airports. In another example, a builder obtained the maximum COVID bounce-back loan of £50,000 by claiming his firm had turned over at least £200,000 the previous year — when prior to receipt of the loan his firm’s account balance stood at £2.72 in credit. The builder then admitted he spent the loan playing poker. Well worth reading the full investigation by George Greenwood and James Hurley here.

[Lord Agnew resigned in parliament (January) after £4.3bn write-off, saying oversight of loans scheme had been ‘nothing less than woeful’]