Treasury minister Lord Agnew has quit his role this afternoon, reportedly due to his dissatisfaction over over Covid business loan fraud.

Lord Agnew, whose role oversaw efficiency in Whitehall told the House of Lords today that he would be stepping down following what he described as the Treasury’s “lamentable” response to business loan fraud throughout the Covid pandemic.

The erstwhile minister for efficiency and transformation, who served in this post at the Treasury and Cabinet Office from February 2020 until today, told his fellow peers that he could no longer defend the Government’s actions.