Clause 98 - Power to make temporary modifications of taxation of employment income

Part of Finance (No. 2) Bill – in a Public Bill Committee at 10:15 am on 11 January 2022.

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Photo of Lucy Frazer Lucy Frazer The Financial Secretary to the Treasury 10:15, 11 January 2022

The hon. Lady is right to say that a number of measures were reactive, but they were brought it at extremely quick pace and were effective pretty much immediately. She makes a valid point about learning; I know the Treasury is learning and has learned throughout the pandemic. The schemes we put in place at the outset have been refined, including the self-employment income support scheme, the furlough schemes and the coronavirus job retention scheme.

The hon. Lady mentioned the level of fraud; as the pandemic went on and the measures were refined, fraud reduced. She makes a valuable point about learning, and I am sure all Departments are learning. We do not want to be in this position again, which is precisely why we are bringing forward this legislation, to ensure that we are ready for any other emergency that should come our way.