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Covid-19: Economy Update

22 October 2020

Lead MP

Rishi Sunak

Debate Type

Ministerial Statement

Tags

EconomyEmploymentLocal Government
Other Contributors: 56

At a Glance

Rishi Sunak raised concerns about covid-19: economy update 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

EconomyEmploymentLocal Government
Government Statement
The Prime Minister outlined a balanced approach to tackling coronavirus, taking difficult decisions to save lives while protecting jobs. The government will provide billions of pounds for local authorities and a grant scheme worth up to half a billion pounds monthly for businesses affected by closures. For areas in alert level 3, over £1 billion is available for grants to support businesses, protect jobs, and aid economic recovery. A new grant scheme is introduced for businesses impacted by tier 2 restrictions, providing direct cash grants of up to £2,100 per month retroactively from August. The job support scheme will cover two-thirds of employees' wages, with a reduction in employer contribution to 5% if they work less than 20% of normal hours. Additionally, self-employed income support is doubled from 20% to 40%, increasing the maximum grant to £3,750.

Shadow Comment

Mel Stride
Shadow Comment
Welcomed the statement and highlighted that policy makers should consider economic impacts alongside epidemiological assessments. Called for updates on progress by the chief economist and suggested including an economic expert in No. 10 press briefings.
Assessment & feedback
Summary accuracy

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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.