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Rishi Sunak defended the UK’s fast pandemic loan rollout, citing job and business savings despite £10.9bn in fraud.
Rishi Sunak, former UK chancellor, testified at the Covid-19 Inquiry on December 16, 2025, defending the rapid rollout of pandemic loan schemes, including the Bounce Back Loan Scheme, despite £10.9bn in fraud and error.
He said the 4% fraud rate was comparable to other welfare programs and that delaying support would have risked widespread business failures.
Sunak emphasized that the government’s urgent intervention likely saved up to three million jobs and half a million businesses, and he would make the same decisions again given the crisis.
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Rishi Sunak defendió el rápido despliegue de préstamos de la pandemia en el Reino Unido, citando ahorros en empleos y negocios a pesar de los 10.900 millones de libras esterlinas en fraude.