With £5bn lost to fraudulent Covid loan claims, Lord Agnew did a rare thing for a minister in 2022: he told the truth and quit
Theodore Agnew was the model of a modern Tory oligarch. A successful businessman, he made enough to dabble in the new politics. He did all the right things. He backed a chain of academy schools and joined a Conservative thinktank, Policy Exchange. He donated a dutiful £134,000 to the Tory party between 2007 and 2009. Part-owner of an AI consultancy called Faculty, Agnew set it to work for Johnson’s Vote Leave campaign. He received a knighthood, then a peerage, and was then offered a ministerial post in Boris Johnson’s government, at the time being advised by the former Vote Leave director, Dominic Cummings. Faculty won a fistful of government contracts worth almost £1m. All in all, Agnew could feature in an Armando Iannucci satire on Boris’s Britain.
Then this week, Agnew went bang. Even he had had enough. In February 2020, he was given the Yes Minister title of “efficiency and transformation”, and in a speech on Monday in the House of Lords he was supposed to congratulate himself on his work. He had been one of the custodians of the £47bn of public money that had been dished out to private companies and banks in bounce-back loans between 2020 and 2021. However, of this sum, Agnew reckoned £17bn had been lost and at least £5bn of those losses were to fraud, or 1p on income tax. He clearly choked on the task asked of him. And then something unprecedented took place. A Johnson minister proceeded to tell the truth and resign on the spot.
Simon Jenkins is a Guardian columnist
Continue reading...from The Guardian https://www.theguardian.com/commentisfree/2022/jan/28/boris-johnson-fraud-minister-covid-loan-lord-agnew
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