Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how many and what proportion of loans claimed through the Bounce Back Loans scheme were duplicates; and what the total value was of all duplicate loans.
To date, the British Business Bank has identified 22,900 Bounce Back Loan Scheme facilities which it suspects could be involved in a case of duplicate loans. This figure includes both original facilities and potential duplicates. The Bank is currently working with lenders to investigate these facilities and determine which are ineligible loans under the scheme rules.