British Business Bank Reservation Notice letter which raises concerns regarding the propriety, value for money, and feasibility of the Bounce Back Loan Scheme.
The letter is from Keith Morgan CBE, (former) Chief Executive Officer & Accounting Officer, British Business Bank, written on behalf of the Board, to Rt Hon Alok Sharma MP, Secretary of State, Department for Business, Energy & Industrial Strategy. It was sent on 2 May 2020 in advance of the Scheme being launched.
Ministerial Direction for the Bounce Back Loan Scheme
The subsequent Written Direction letter from Sam Beckett (former) Permanent Secretary, Department for Business, Energy & Industrial Strategy & Principal Accounting Officer to Keith Morgan CBE, (former) Chief Executive Officer & Accounting Officer setting out the ministerial direction, can be found here.