In a Treasury Committee hearing on Wednesday, Lord Agnew once again gave evidence about the government’s attempts to prevent fraud over the business support schemes which were introduced at the beginning of the Covid-19 pandemic.

Lord Agnew stated that banks will soon be able make use of the guarantee to claim back money on unpaid loans and urged the government to prioritise this. There was a two-year deadline until banks could start making claims, following the initial launch of the loan programme.