Tag: 2022

  • Brendan Clarke-Smith – 2022 Statement on Children with No Recourse to Public Funds

    Brendan Clarke-Smith – 2022 Statement on Children with No Recourse to Public Funds

    The statement made by Brendan Clarke-Smith, the Parliamentary Under-Secretary of State for Education, in the House of Commons on 5 September 2022.

    Today I am providing an update following a consultation undertaken by my Department to consider access to the two-year-old early education entitlement for children from families with no recourse to public funds (NRPF). The purpose of the two-year-old early education entitlement is to provide early education and support to the most disadvantaged two-year-olds in England.

    Some families with an irregular immigration status have a NRPF condition designated by the Home Office. This condition restricts these families from drawing on welfare support and other passported Government support, and previously this has meant that their children, regardless of their own circumstances, have been unable to access the early education entitlement for disadvantaged two-year-olds.

    The Department announced on 24 March 2022 that we would extend eligibility for free school meals to children from all families with NRPF subject to income thresholds and that we would consult on whether there are any additional groups of children from NRPF families who should be eligible for the two-year-old entitlement that we have not already identified.

    I am pleased to confirm the publication of our consultation response on gov.uk. This confirms that the additional groups that have been identified are:

    (1) those with a UK ancestry visa

    (2) those with temporary protection status under Section 12 of the Nationality and Borders Act; and

    (3) those with pre-settled status with no qualifying right to reside.

    We have now permanently extended eligibility for the two-year-old early education entitlement to children from all families with NRPF, subject to the income thresholds as follows:

    £26,500 for families outside of London with one child.

    £34,500 for families within London with one child.

    £30,600 for families outside of London with two or more children.

    £38,600 for families within London with two or more children.

    A maximum capital threshold of £16,000 applies in all areas.

    These thresholds were developed to create comparative thresholds with broad equivalence with families with recourse to public funds and who qualify for the early education entitlement due to being in receipt of welfare benefits.

    This permanent extension begun on 1 September 2022. We have published guidance to support local authorities in implementing these changes.

    This will help to ensure that every child gets the best possible start and receives the right support, in the right place, at the right time.

  • Andrea Jenkyns – 2022 Statement on Student Loan Interest Rates

    Andrea Jenkyns – 2022 Statement on Student Loan Interest Rates

    The statement made by Andrea Jenkyns, the Parliamentary Under-Secretary of State for Education, in the House of Commons on 5 September 2022.

    I am announcing today a temporary reduction in student loan interest rates effective as of 1 September 2022.

    The Government announced on 13 June 2022 that the student loan interest rate would be set at 7.3% between 1 September 2022 and 31 August 2023, in line with the forecast prevailing market rates. The Government confirmed that should the actual prevailing market rate turn out to be lower than forecast, a further cap would be implemented to reduce student loan interest rates accordingly.

    I am announcing today a temporary cap to the post-2012 income contingent repayment undergraduate and postgraduate loan interest rates in line with the latest actual prevailing market rate. Subject to parliamentary approval, the cap will come into effect on 1 September 2022 and last for a period of three months.

    The post-2012 undergraduate and postgraduate income contingent repayment student loan interest rates will be 6.3% between 1 September 2022 and 30 November 2022.

    From 1 December 2022, the post-2012 and postgraduate income contingent repayment student loan interest rates will be 7.3%, as announced on 13 June 2022, to align with the forecast prevailing market rate. As before, should the actual prevailing market rate turn out to be lower than forecast, the post-2012 undergraduate and postgraduate income contingent repayment student loan interest rates will be reduced accordingly.

  • Will Quince – 2022 Statement on the Department for Education’s Contingency Fund Application

    Will Quince – 2022 Statement on the Department for Education’s Contingency Fund Application

    The statement made by Will Quince, the Minister for School Standards, in the House of Commons on 5 September 2022.

    I hereby give notice of the Department for Education’s intention to seek an advance from the Contingencies Fund.

    This follows the Department’s announcement on 11 March that a new independent Government body will be created to support teachers in delivering excellent curriculum content as part of world-class lessons. The body will help every child in the country reach the true height of their potential.

    The body is expected to become fully operational from autumn following a transition phase, which will include procurement and development of new resources. The first new resources will be available to teachers by September 2023. The body has been incorporated as Oak National Academy Ltd.

    Parliamentary approval for additional resources of £2,809,000 and capital of £3,869,000 for this new expenditure will be sought in a supplementary estimate for the Department for Education. Pending that approval, urgent expenditure estimated at £6,678,000 will be met by repayable cash advances from the Contingencies Fund.

    We will seek a movement of funding in budgetary requirements at supplementary estimate. Accessing the Contingency Fund allows the Department to manage the expenditure associated with establishing and launching the new body.

    I am therefore seeking parliamentary approval for costs of £6,678,000. The advance will be repaid upon receiving approval of the supplementary estimate.

  • Nadine Dorries – 2022 Statement on the Department for Digital, Culture, Media and Sport

    Nadine Dorries – 2022 Statement on the Department for Digital, Culture, Media and Sport

    The statement made by Nadine Dorries, the then Secretary of State for Digital, Culture, Media and Sport in the House of Commons on 5 September 2022.

    I would like to inform the House of a number of DCMS updates.

    Over summer recess we also reached another key milestone in the transformation of the UK’s broadband networks—announcing that over 70% of homes and businesses across the country now have access to lightning-fast, gigabit connections.

    It has also been an incredible summer of sport, with my Department helping to successfully host both the UEFA Women’s Euros and the Birmingham Commonwealth games.

    Building on the spectacular performance of the Lionesses at the Euros final, I wish to inform the House that on 2 September, the Government have officially launched a review of the future of women’s football.

    Launch of the future of women’s football review

    The Lionesses’ Euros victory rightfully put women’s sport at the centre of the agenda. Record numbers of viewers watched their success: 574,875 tickets were sold at the tournament, with sell-out crowds wherever the Lionesses played. The final also broke the attendance record for a Euros final—in either the women’s or men’s game. While it is right that we celebrate and reflect on that success, we must now refocus to ensure that this success translates to the continued growth of the women’s game.

    The fan-led review of football governance, conducted in 2021, recognised the different issues that the women’s game faces in comparison to men’s football. The fan-led review therefore recommended that women’s football should receive its own dedicated review. Government accepted this recommendation. Rather than the issues of financial mismanagement and fit and proper owners that the fan-led review considered, the review of the women’s game will focus on capitalising on popularity and continuing to grow the game.

    The review will be chaired by former England and Great Britain footballer Karen Carney MBE. Karen has extensive knowledge of women’s football and the issues affecting it, having had a very successful playing career and later moved on to become a respected broadcaster and columnist on both women’s and men’s football. Karen’s unique experience will be invaluable in ensuring that the review makes proposals that help to continue the growth and success of the women’s game.

    The review will now commence with stakeholders and fan groups having the opportunity to provide evidence on the issues affecting the women’s game. There will be a particular focus on assessing the potential audience reach and growth of the game, examining the financial health of the game, its financial sustainability for the long term and the structures within women’s football.

    The findings and recommendations arising from this review will be set out in a published report next year.

    We have further updates to make on the gifting of Birmingham 2022 Commonwealth games assets, and the removal of facsimile services from the universal service order.

    Gifting of assets following the conclusion of the Birmingham 2022 Commonwealth games

    During the summer recess my Department has been working with the organising committee of the Birmingham 2022 Commonwealth games to prepare to donate the sports equipment assets to Sport England for onward distribution to community organisations in Birmingham and the west Midlands. This will ensure maximum legacy opportunities for communities and sporting organisations to benefit from the games.

    It is normal practice when a Government Department (in this instance an arm’s length body of the Department) proposes to make a gift of a value exceeding £300,000, for the Department concerned to present to the House of Commons a minute giving particulars of the gift and explaining the circumstances; and to refrain from making the gift until 14 parliamentary sitting days after the issue of the minute, except in cases of special urgency.

    As the games equipment was being passed to Sport England immediately after the conclusion of the games, and with the games having taken place during summer recess, DCMS wrote to Dame Meg Hillier MP as chair of the Committee of Public Accounts, and Julian Knight MP as chair of the Digital, Culture, Media and Sport Select Committee on 29 July 2022, informing them of the proposed course of action.

    Ministers at HM Treasury have approved the proposal in principle. If, during the period of 14 parliamentary sitting days beginning on the date on which this minute was laid before the House of Commons, a Member signifies an objection by giving notice of a parliamentary question or a motion relating to the minute, or by otherwise raising the matter in the House, final approval of the gift will be withheld pending an examination of the objection.

    I inform the House today of the Departmental minute which sets out the detail of the decision, which has been laid in both Houses.

    The distribution of sports equipment from Sport England onwards is expected to commence in October.

    A copy of the departmental minute will be placed in the Libraries of both Houses.

    Removal of the Fax USO

    Tomorrow, the Government will amend the Electronic Communications (Universal Service) Order 2003 to remove facsimile services from the USO. This will come into force on 1 October 2022.

    DCMS previously wrote to Ofcom to consult it ahead of potentially removing fax from the universal service order. This was in light of the industry-led migration from the public switched telephone network to all-internet protocol telephony, which will mean that fax machines will no longer work in the same way. This was in accordance with section 65(4) of the Communications Act 2003 which states that, before making or varying the universal service order, the Secretary of State must consult Ofcom and such other persons as they consider appropriate.

    After a public consultation, Ofcom concluded it would be appropriate to remove fax from the USO. Ofcom noted the low usage of fax, as well as the availability of reliable alternatives, many of which are free of charge. DCMS officials conducted further investigations with the healthcare, tourism, legal, and energy sectors, and found that the use of fax was minimal and alternatives are being sought where its use still continues.

    DCMS is content that it is appropriate to remove fax from the telephony USO. As a result, the designated providers BT and KCOM will no longer be required to provide fax services. We are making this change now given the ongoing changes to the UK’s telephone networks, as well as recognising that the limited existing use of fax services makes their inclusion in the USO unnecessary.

    Fax services will remain available on existing PSTN connections until the service is withdrawn by the industry in 2025. BT has also indicated that fax services may continue to function over its digital voice services, though they are not guaranteed in the same way. Furthermore, the move from fax services to alternatives will have already been a part of many sectors’ preparation for migration to all-IP. DCMS has been working closely with other Government Departments to raise awareness of this change and others expected as part of PSTN migration.

    The Government will also be making a minor clarification to the USO with regard to the term “publicly available telephone service”, as recommended by the Joint Committee on Statutory Instruments in 2011.

  • Liz Truss – 2022 Email to Conservative Party Members on Becoming Prime Minister

    Liz Truss – 2022 Email to Conservative Party Members on Becoming Prime Minister

    The email sent by Liz Truss to Conservative Party members on 6 September 2022.

    Good afternoon.

    I have just accepted Her Majesty The Queen’s kind invitation to form a new government.

    Let me pay tribute to my predecessor.

    Boris Johnson delivered Brexit, the Covid vaccine, and stood up to Russian aggression.

    History will see him as a hugely consequential Prime Minister.

    I am honoured to take on this responsibility at a vital time for our country.

    What makes Britain great is our fundamental belief in freedom, in enterprise, and in fair play.

    Our people have shown grit, courage, and determination time and time again.

    We now face severe global headwinds caused by Russia’s appalling war in Ukraine and the aftermath of Covid.

    Now is the time to tackle the issues that are holding Britain back.

    We need to build roads, homes, and broadband faster.

    We need more investment and great jobs in every town and city across our country.

    We need to reduce the burden on families and help people get on in life.

    I know we have what it takes to tackle those challenges.

    Of course, it won’t be easy. But we can do it.

    We will transform Britain into an aspiration nation with high-paying jobs, safe streets and where everyone everywhere have the opportunities they deserve.

    I will take action this day, and action every day, to make it happen.

    United with our allies, we will stand up for freedom and democracy around the world – recognising we cannot have security at home without security abroad.

    As Prime Minister, I will pursue three early priorities.

    Firstly, I will get Britain working again.

    I have a bold plan to grow the economy through tax cuts and reform.

    I will cut taxes to reward hard work and boost business-led growth and investment.

    I will drive reform in my mission to get Britain working, building, and growing.

    We will get spades in the ground to make sure people are not facing unaffordable energy bills and we will also make sure that we are building hospitals, schools, roads, and broadband.

    Secondly, I will deal hands-on with the energy crisis caused by Putin’s war.

    I will take action this week to deal with energy bills and to secure our future energy supply.

    Thirdly, I will make sure people can get the doctors’ appointments and NHS services they need. We will put our health service on a firm footing.

    By delivering on the economy, energy, and the NHS, we will put our nation on the path to long-term success.

    We should not be daunted by the challenges we face.

    As strong as the storm may be, I know the British people are stronger.

    Our country was built by people who get things done.

    We have huge reserves of talent, of energy, and of determination.

    I am confident that together we can ride out the storm, we can rebuild our economy, and become the modern, brilliant Britain that I know we can be.

    This is our vital mission to ensure opportunity and prosperity for all people and future generations. I am determined to deliver. Thank you.

    Liz Truss
    Prime Minister

    Leader of the Conservative & Unionist Party

  • Jeremy Quin – 2022 Bearskins Clarification Statement

    Jeremy Quin – 2022 Bearskins Clarification Statement

    The statement made by Jeremy Quin, the Minister for Defence Procurement, in the House of Commons on 5 September 2022.

    On 11 July in a debate in Westminster Hall on bearskins, I referred to data on potential faux fur products that had previously been shared with the Department, but I also stated that the Ministry of Defence had not received recent results data. Whilst my statement was in line with advice I had received, further work has revealed that this was not correct, and I wish to correct the record.

    In May 2022 a letter was sent to the Prime Minister by PETA, copying Defence Ministers, enclosing a report against two of the five initial criteria that faux fur would have to meet in order for further work to be done to consider it as a replacement for the guardsmen’s caps. This was passed to officials in the Ministry of Defence, who responded on 15 June 2022 requesting that the report should be sent by the organisation that had conducted the tests direct to our partner, Leidos. We understand an email containing the report was sent but was blocked by Leidos’s spam filters and deleted. Subsequent to the debate, the email was re-sent, copying the MOD. After the MOD forwarded a copy to Leidos it was safely received.

    To date, the Ministry of Defence has not seen a set of verifiable data that demonstrates a single sample of faux fur meets the five criteria. We are aware of testing that was carried out in December 2020 by an accredited testing house against three of the criteria, although the material only passed one of those tests: water penetration. As I have explained, we are also aware of further testing, conducted in April 2022. The MOD does not believe from the information we have seen that the organisation that conducted those tests is accredited by either the UK Accreditation Service or the International Laboratory Accreditation Co-operation. In order to consider taking any proposed product forward, we need test results that have been conducted by an independent and accredited testing house.

    Consequently, we have not to date seen evidence that a suitable faux fur product exists to be considered as an alternative.

    Currently, the foot guards’ ceremonial caps are sourced exclusively from Canada, which is a regulated market and a declared party to the convention on international trade in endangered species of wild fauna and flora. A CITES permit is required for the export of pelts from Canada to the United Kingdom. Canadian and international laws provide strict trade regulations to protect against unlawful trade in black bears, both within Canada and internationally. No bears are hunted to order for the Ministry of Defence; pelts are a product of legal and licensed hunting authorised in Canada by provincial and territorial Governments with the goal of long-term population sustainability.

  • Jacob Rees-Mogg – 2022 Statement on the Launch of the Public Sector Fraud Authority

    Jacob Rees-Mogg – 2022 Statement on the Launch of the Public Sector Fraud Authority

    The statement made by Jacob Rees-Mogg, the then Minister for Brexit Opportunities, in the House of Commons on 5 September 2022.

    Further to the written statement dated 7 July, I am writing to update the House that the Public Sector Fraud Authority launched on 3 August 2022.

    The Chancellor’s spring statement, issued on 23 March 2022, provided £25 million of funding to establish the PSFA, which brings together experts from across sectors in an integrated way with the Cabinet Office and HM Treasury. Staffed by counter-fraud experts and backed by leading data analytics tools and techniques, it will put a greater focus on performance and outcomes. It will also build deeper and broader expert-led services to support Departments and public bodies to reduce the impact of fraud. The functions and services of the PSFA will be built over the next two years.

    The authority has launched with a target of detecting and preventing £180 million of fraud in its first year and will work with Government Departments and public bodies to agree longer-term targets by December.

    The PSFA will modernise the Government’s counter-fraud response by:

    Agreeing ambitious counter-fraud plans for departments and public bodies and reviewing progress;

    Regularly and directly briefing Cabinet Ministers including HM Treasury and Cabinet Office on the latest fraud landscape;

    Providing expert support to Departments and public bodies about the fraud risks and threats they face, then helping to design defences against them and test their effectiveness;

    Building a new national counter-fraud data analytics service that will provide advanced data capabilities—such as social network analysis—to surface, fight and prevent fraud against taxpayers; and

    Enhancing the use of fraud intelligence across the public sector, and with other sectors, to combat specific threats.

    Ahead of a permanently appointed chief executive officer of the authority, it is led by interim chief executive officer Mark Cheeseman OBE, an internationally recognised expert in public sector fraud who led the creation of the Government’s counter-fraud profession and the establishment of the international public sector fraud forum.

    The PSFA will be supported by a cross-sector advisory panel that will provide expert advice and help shape the strategic approach to public sector fraud prevention and reduction. The chair of the advisory panel will be announced in September.

  • Michael Ellis – 2022 Infected Blood – Interim Compensation

    Michael Ellis – 2022 Infected Blood – Interim Compensation

    The statement made by Michael Ellis, the Minister for the Cabinet Office and Paymaster General, in the House of Commons on 5 September 2022.

    The infected blood inquiry has heard first-hand details of the terrible suffering experienced by the victims of infected blood over many years, and the urgent need to address the financial uncertainty faced by many.

    This Government commissioned Sir Robert Francis QC to produce an independent study with options for a workable and fair framework of compensation for those infected and affected by the tragedy. A copy of Sir Robert’s report is in the Library of this House.

    Following Sir Robert’s detailed evidence given to the inquiry in July, the chair of the infected blood inquiry, Sir Brian Langstaff, delivered an interim report to the Government. In accordance with section 26 of the Inquiries Act 2005, a copy of Sir Brian’s interim report has been laid before Parliament. In his report, Sir Brian made the following recommendations:

    “(1) An interim payment should be paid, without delay, to all those infected and all bereaved partners currently registered on UK infected blood support schemes, and those who register between now and the inception of any future scheme;

    (2) The amount should be no less than £100,000, as recommended by Sir Robert Francis QC.”

    On 16 August, I wrote to Sir Brian to confirm that the Government have accepted his recommendation in full and that we will be making an interim payment of £100,000, by the end of October, to all infected beneficiaries and bereaved partners registered with the four national support schemes. The date of effect of the recommendation is 29 July 2022, the date that Sir Brian delivered his report. Any infected person or bereaved partner registered with one of the four schemes operating in England, Scotland, Wales or Northern Ireland on that date will be eligible to receive the payments. Sir Brian’s recommendation —which this Government accept—was careful not to exclude any eligible person who, for whatever reason, may have not registered themselves with their relevant national support scheme. Should they do so in future, before the inception of any future scheme, they will also be eligible for such a payment, subject to successful application to the scheme.

    The intention is that payments will be tax-free and will not affect any financial benefits support an individual is receiving. In advance of the payments, the four support schemes will write to beneficiaries, confirming tax exemptions and benefit disregards, and provide practical details about how the payments will be made. The UK Government will provide the funding to ensure that those eligible, wherever they are living in the United Kingdom, will receive the payment.

    As recognised by Sir Robert Francis and Sir Brian Langstaff, this group of victims is the immediate priority for the Government because we recognise that, tragically, many of these individuals will not see the conclusion of the inquiry.

    However, I am mindful that there will be people deeply affected by this tragedy who will not benefit from these payments. Sir Robert’s detailed compensation framework study makes carefully considered recommendations about the further scope of compensation, including that carers and bereaved relatives—a cohort of affected people not currently supported by financial support schemes—should be compensated. In his interim report, Sir Brian makes specific reference to bereaved parents and children but notes the complexities in determining the approach to their compensation.

    To those individuals and others who are out of scope of these payments, I would like to emphasise that the interim payments the Government have announced are the start of the process and not the end. Sir Robert’s study has been warmly welcomed by the inquiry and, without prejudging the findings of the independent inquiry, I fully expect his wider recommendations to inform the inquiry’s final report when it is published in mid-2023. Until that time, the Government will continue work in consideration of the broader recommendations in the compensation framework study so that we are ready to respond promptly when the inquiry concludes its work.

  • Kwasi Kwarteng – 2022 Statement on Bulb Energy and the Bounce Back Loan Scheme

    Kwasi Kwarteng – 2022 Statement on Bulb Energy and the Bounce Back Loan Scheme

    The statement made by Kwasi Kwarteng, the then Secretary of State for Business, Energy and Industrial Strategy on 5 September 2022.

    Today I will lay before Parliament a departmental minute describing a number of contingent liabilities arising from the issuance of letters of credit for the energy administrators acting in the special administration regime for Bulb Energy Limited (“Bulb”). These letters of credit replace previous ones provided, announced within past written ministerial statements, which soon expire.

    It is normal practice when a Government Department proposes to undertake a contingent liability of £300,000 and above, for which there is no specific statutory authority, for the Department concerned to present Parliament with a minute giving particulars of the liability created and explaining the circumstances.

    I have ensured that Parliament has been afforded the full 14-sitting-day notification period to allow the proper scrutiny of these new contingent liabilities.

    Bulb entered the energy supply company special administration regime on 24 November 2021. Energy administrators were appointed by court to achieve the statutory objective of continuing energy supplies at the lowest reasonable practicable cost until such time as it becomes unnecessary for the special administration to remain in force for that purpose.

    My Department has agreed to provide a facility to the energy administrators, with letters of credit issued, with my approval, to guarantee such contract, code, licence, or other document obligations of the company consistent with the special administration’s statutory objective. I will update the House if any letters of credit are drawn against.

    The legal basis for a letter of credit is section 165 of the Energy Act 2004, as applied and modified by section 96 of the Energy Act 2011.

    HM Treasury has approved the arrangements in principle.

    Publication of latest bounce back loan scheme and lender performance data

    Today the Government provide an update on the performance of the bounce back loan scheme (BBLS), which was designed to provide rapid access to finance for small businesses affected by the coronavirus pandemic. The data in this release includes specific information on the value of loans marked as suspected fraud, and claims made and settled by individual lenders who are accredited for the scheme.

    This data release is part of the Government’s ongoing commitment to transparency in relation to BBLS. The Government will continue to provide updates at regular intervals. This update will be published on the BEIS website to allow members to further scrutinise the data.

    The data in this publication is as at 31 July 2022, unless otherwise stated. The data comes from information submitted to the British Business Bank’s (the Bank’s) scheme portal by accredited scheme lenders.

    As of 31 July 2022, businesses have drawn a total of £46.6 billion through BBLS. The first evaluation of BBLS, published in June 2022, found that up to 500,000 businesses could have permanently ceased trading in 2020 in the absence of the scheme.

    It is unfortunate that some have taken the decision to take advantage of this vital intervention by defrauding the scheme for their own financial gain. The Government have always been clear that anyone who sought to do so is at risk of prosecution.

    Checks were put in place from the outset to reduce the risk of fraudulent applications being successful. Lenders are the first line of defence, and were required to make or maintain know-your-customer and anti-money laundering checks and use a reputable fraud bureau to screen applicants against potential or known fraudsters. Lenders reported preventing over £2.2 billion-worth of fraudulent applications as a result of these checks.

    The Government remain focused on working with the Bank, lenders and law enforcement agencies to tackle fraud in the scheme. This work is supported by the Public Sector Fraud Authority, who have led the development of a sophisticated analytics programme to better understand the level and types of fraud committed against the scheme.

    We are working with enforcement bodies including the National Investigation Service (NATIS) and the Insolvency Service to investigate instances of fraud, recover fraudulent loans and penalise fraudsters. Since September 2020, NATIS has opened 273 investigations into BBLS fraud, with a total value of £160 million. Some 78 suspects have been dealt with to date, with 49 arrests made. Meanwhile, Insolvency Service activity on BBLS fraud has so far resulted in 242 director disqualifications, 101 bankruptcy restrictions and 1 criminal prosecution. This enforcement activity is in addition to recovery work being undertaken by lenders as part of their obligations under the BBLS guarantee agreement.

    At spring statement 2022, the Government announced an additional £48.8 million of funding over three years to tackle public sector fraud. This included further investment of £13.2 million in NATIS, effectively doubling their capacity to investigate BBLS fraud, and £10.9 million to enhance the Bank’s counter-fraud and assurance work programme.

    Headline figures

    £28.3 billion: the outstanding balance of total drawn loans making payments on schedule

    £4.7 billion: the amount that has been fully repaid by borrowers

    £3.2 billion: the outstanding balance of loans in arrears that haven’t yet progressed to defaulted

    £1.4 billion: the outstanding balance of loans defaulted that haven’t yet progressed to claimed

    £2.6 billion: the outstanding balance of loans claimed that haven’t yet progressed to settled

    £1.2 billion: the total settled amount (the amount paid out to lenders under the BBLS guarantee agreement)

    £1.1 billion: the total drawn value flagged by lenders as suspected fraud

    Notes:

    The values stated above will not add up to the total drawn values as set out in column 1 of table 3 (Detailed loan status by lender). That is because the above figures  do not take account of events which can reduce outstanding balances—for example: partial repayments of a loan, certain recoveries received in respect of a loan, and amounts written off loans by lenders.

    To aid the reader’s understanding of the data, the terms used in this publication are defined at the end.

    All businesses remain responsible for repaying their loans under BBLS and are fully liable for the debt.

    It is important to recognise that it is still relatively early in the life of the scheme, and therefore it is too soon to definitively assess the performance of the BBLS scheme as a whole. Data being collected from accredited scheme lenders is subject to refinement, addition, and correction over time. Please see “Limitations and further considerations” for further background.

  • Liz Truss – 2022 Text of Email to Conservative Party Members

    Liz Truss – 2022 Text of Email to Conservative Party Members

    The text of email from Liz Truss to Conservative Party members on 7 September 2022.

    I am immensely grateful for everyone’s support throughout the leadership campaign and since I was elected on Monday. Whether you voted for me or not, I can assure you I will deliver for you as Leader of our Party and as your Prime Minister.

    You are the backbone of the Conservative Party. While often the unsung heroes, it is the tireless efforts of our members that have delivered four consecutive General Election victories, and I know, that with your support, we will win again.

    Our country faces immense challenges. Covid and Putin’s war in Ukraine mean the issues facing us today are stark, and there is a lot of work to be done over the next two years.

    Together with my new Cabinet, I will work tirelessly to deliver, deliver, deliver for the British people.

    We will begin work immediately to deliver a bold, Conservative plan for Britain – with three key early priorities.

    Rapid action on energy bills to help people through the months ahead, while tackling the root cause of the energy crisis.

    Growing the economy in a Conservative way by cutting taxes and slashing red tape.

    And putting our NHS on a firm footing for the future so it works for patients.

    Together we will get through these tough times and unleash the full potential of our great country.

    And with your support, we will win again in 2024 and stop the Anti-Growth Coalition of Labour, the Liberal Democrats and the SNP getting their hands on the keys to Downing Street.

    Yours sincerely,

    Liz Truss
    Prime Minister

    Leader of the Conservative & Unionist Party