Economic Situation: Coronavirus

Treasury written question – answered on 5th May 2020.

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Photo of Lord Price Lord Price Conservative

To ask Her Majesty's Government what assessment they have made of the economic impact of the COVID-19 pandemic on different age groups.

Photo of Lord Agnew of Oulton Lord Agnew of Oulton Minister of State (HM Treasury), Minister of State (Cabinet Office)

There is currently insufficient data to enable us to assess the precise economic impacts of the COVID-19 pandemic on individual groups.

We recognise the challenges the current crisis is having on all groups in society, including the most vulnerable.

The Government has announced an unprecedented package of support – including boosts to Universal Credit, the Coronavirus Job Retention Scheme, the Coronavirus Business Interruption Loan Scheme (CBILS), the Bounce Back Loan scheme, and the Self-Employed Income Support Scheme – which will help protect incomes, jobs, and support those most at need.

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