Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what recent estimate her Department has made of the amount of money owed by insolvent businesses under the (a) Bounce Back Loan Scheme, (b) Coronavirus Business Interruption Loan Scheme and (c) Coronavirus Large Business Interruption Scheme.

The Department does not have a recent estimate of the amount of money owed by insolvent businesses under (a) Bounce Back Loan Scheme, (b) Coronavirus Business Interruption Loan Scheme and (c) Coronavirus Large Business Interruption Scheme. This is because the Department does not have full data on any partial repayments which were made by businesses before they entered insolvency proceedings.

The Insolvency Service is taking action to address any wrongdoing in this area: as of 31 March 2023, the number of directors disqualified for this misconduct related to these schemes totals 602 and the number of bankruptcy restrictions totals 163. In addition, 6 criminal Prosecutions for allegations related to the Bounce Back Loan Scheme had concluded, with 3 immediate custodial sentences and 3 suspended custodial sentences.