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flag Rishi Sunak defended the UK’s fast pandemic loan rollout, citing job and business savings despite £10.9bn in fraud.

flag 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. flag He said the 4% fraud rate was comparable to other welfare programs and that delaying support would have risked widespread business failures. flag 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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