Covid-19: Economic Package

Part of the debate – in the House of Commons at 12:32 pm on 12th May 2020.

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Photo of Rishi Sunak Rishi Sunak The Chancellor of the Exchequer 12:32 pm, 12th May 2020

People have ups and downs and variations in their earnings for all sorts of reasons, whether because of maternity, ill health or something else. To deal with that, we have provided an average of income over up to three years on a look-back basis, to smooth out all the ups and downs in all people’s incomes. That was something that stakeholder groups were keen to see at the beginning, it is something that we delivered, and I believe it provides the fairest way to treat everybody, on a level playing field, whatever their circumstances. A three-years averaging of earnings seems to me to be a reasonable approach to take.