Government spending on Covid could soar past its current estimate of £372billion, a top Treasury official warned today.
Tom Scholar told MPs that the current National Audit Office (NAO) estimate of public expenditure during the pandemic was a good, reliable snapshot but he would expect it to change.
The Treasury permanent secretary - the department s most senior civil servant- warned that if the public required booster jabs on top of their current double-dose it would add to Government costs.
He also said that companies defaulting on Government-backed Covid emergency loans could also see the Treasury take a larger hit.
Appearing in front of the Public Accounts Committee (PAC) today, Mr Scholar was asked about the figure released by the NAO from its cost tracker last week.
Updated 4 hours ago
Disingenuous or delusional? Who would employ someone who botches their own reputation management?
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“Make no mistake, this is a painful day, coming back to a place that I love and respect so much, albeit virtually, but in these circumstances.” David Cameron’s very first words to the Treasury select committee neatly previewed everything else that was to come: self-preservation masquerading as atonement, special pleading with a hint of humblebrag, all wrapped up in smoothly worded obfuscation.