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UK lost £10.9B in pandemic funds to fraud and error; only £1.8B recovered.
A UK government report reveals that £10.9 billion in pandemic relief funds were lost to fraud and error, with only £1.8 billion recovered and much of the rest now unrecoverable due to degraded evidence and offshore fund transfers.
The losses stemmed from fast-tracked programs like Bounce Back Loans, Eat Out To Help Out, and furlough, which lacked adequate safeguards.
Overordering of unused PPE contributed significantly, with £10 billion spent on 11 billion unused items.
Chancellor Rachel Reeves condemned the failures, pledging to pursue recovery efforts and establish a scrutiny panel to prevent future issues.
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El Reino Unido perdió £10.9B en fondos de pandemia por fraude y error; solo se recuperaron £1.8B.