The Government's treatment of debt has been "characterised by neglect and periodic large write-offs," according to the head of the Public Accounts Committee (PAC).
After a scathing report into the Government's failue to collect the £22bn it was owed, Margaret Hodge said:
– Margaret Hodge
The Government is owed this massive amount of money but it has failed to take a strategic, cross-government approach to managing that debt and getting more money paid to the Exchequer.
Instead its treatment of debt has been characterised by neglect and periodic large write-offs.