Archive for July 16th, 2008

July 16th, 2008

Silly Money

Posted in Not the Job by 200

Bloody hell, no wonder the government want lots of free cash to boost the old coffers; it must be to make up for the billions of wasted cash the government have mis-managed over tax credits. You know tax credits, the scheme introduced to replace family allowance (& presumably to save money, why else to the government change things?).

You might also remember them because of the furore when some idiot posted CDs containing the personal details of millions of us who are claiming tax credits when they went missing.

Apparently, £14 billion has been lost in fraud, error & overpayment in just 4 years. The National Audit Office found that up to £1.5 billion was lost through fraud in 2007 alone bringing to £7.3 billion losses as a result of bogus claims in the last 4 years. £6.7 billion has been overpaid, only £2 billion of which has been taken back.

It’s really hard to comprehend. I think most people would be pretty concerned if you said a few million quid a year was just disappearing due to the inefficiency of a system brought in to streamline  & improve the process, but fourteen thousand million???

Absolutely staggering.