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The Economy

24 September 2020

Lead MP

Rishi Sunak

Debate Type

Ministerial Statement

Tags

TaxationEmploymentCulture, Media & Sport
Other Contributors: 30

At a Glance

Rishi Sunak raised concerns about the economy in the House of Commons. A government minister responded. Other MPs also contributed.

How the Debate Unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said:

Government Statement

TaxationEmploymentCulture, Media & Sport
Government Statement
The Chancellor Rishi Sunak provided an update on the UK's economic strategy amidst the resurgence of coronavirus cases. He highlighted that while there has been a three-month growth in the economy, the current situation requires adaptation to protect jobs through winter. The statement emphasised the introduction of a new 'jobs support scheme' aimed at helping businesses facing reduced demand by allowing them to keep employees on shorter hours with government wage support. This supports viable jobs, targets firms needing it most, and includes self-employed individuals similarly to previous schemes. Additionally, he announced extensions for loan repayment periods and deferral of VAT payments to provide more financial flexibility to businesses. Lastly, the Chancellor extended the lower VAT rate for hospitality and tourism sectors until March 2021. The total investment mentioned included £190 billion in initial support and over £12 billion specifically for test and trace measures.

Shadow Comment

Anneliese Dodds
Shadow Comment
The Shadow Chancellor welcomed the announcement of a jobs support scheme but criticised the delay in introducing such measures. She questioned the effectiveness and conditions of the new wage support scheme to ensure value for public money, training opportunities, and continuation of employment. Dodds also called for clarity on how the scheme will address gaps in coverage for self-employed workers and those clinically vulnerable to coronavirus. Highlighting previous calls from Labour for a back-to-work Budget, she emphasised the need for urgent action on test, trace, and isolate systems, alongside addressing issues with green investment.
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About House of Commons Debates

House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.