The largest component of the Treasury's 2011/12 accounts - £119bn - remains the government's support to the banks.

The revelations of the government's coffers emerged in a report published today of Treasury's accounts following a review by the Public Accounts Committee (PAC).

The committee said that support to the banks has continued to reduce, as shown in the Comptroller & Auditor General's Report, with the majority of the guarantees now successfully removed.

'However, some £119bn of cash support remains outstanding, of which £66bn was spent buying shares in RBS and Lloyds,' the PAC said.

The shares, which are yet to be recovered, have now also fallen in market value by 31 March 2012, by £34bn.

The PAC's report also criticised the Treasury for detail in its accounts which it said was 'impenetrable' - a concern, the committee said, 'when the Treasury should be a leading proponent of clarity in financial reporting.'

The committee said the Treasury's lending schemes - introduced to help businesses on account of the difficult economic context -had 'failed' since it achieved just 15% of its intended take-up.

'The Treasury told us that its latest attempt, the National Loans Guarantee Scheme, had effectively been superseded by the, apparently more generous, Funding for Lending Scheme operated by the Bank of England. The Treasury has limited understanding of its role in these measures. It has not set out its goals and intended outcomes, and it has limited management information to help it monitor progress, giving the impression of a series of expensive experiments indemnified with taxpayer's money,' the PAC added.

PAC chair Margaret Hodge also lambasted the Treasury's quantitative easing exercise, saying: 'Some £375bn has so far been injected into the economy as an "experiment" but the department could not explain to us what the effect has been on the whole economy or on different parts of society.'

In addition, the Treasury's high staff turnover was scrutinised - during 2011/12, staff turnover fell from 28% to 16% - the PAC said this threatened the department's ability to respond to crises and manage public spending effectively.

Hodge also pointed out that there were still very few women at senior levels in the department.

The PAC said that the department has 'limited understanding' of its role and 'limited management information to help it monitor progress, giving the impression of a series of expensive experiments indemnified with taxpayer's money.'