Lord Agnew resigns in parliament after £4.3bn write-off, saying oversight of loans scheme had been ‘nothing less than woeful’

The minister responsible for efficiency has dramatically resigned his post publicly in parliament, saying he was unable to defend the way the government handled fraudulent Covid business loans.

“Given that I am the minister for counter-fraud, it would be somewhat dishonest to stay on in that role if I am incapable of doing it properly,” Theodore Agnew, a Cabinet Office minister whose brief also covers the Treasury, told the Lords.

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