STORY
The Public Accounts Committee has said the Government wrote off close to £7 billion of public money in losses during 2024-25, describing the figure as an example of poor value for the taxpayer.
The committee’s report, drawing on National Audit Office work, said £6.6 billion represented spending that had not achieved its intended objectives or created value. It also raised wider concerns about the quality and timeliness of Government financial reporting.
The report adds to pressure on ministers over public sector efficiency and Whitehall accountability. The committee said Government spends around £1.1 trillion a year, making accurate and timely reporting essential for parliamentary and public scrutiny.