Economic Situation: Coronavirus

Treasury written question – answered on 12th May 2020.

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Photo of Rachael Maskell Rachael Maskell Shadow Minister (Digital, Culture, Media and Sport)

To ask the Chancellor of the Exchequer, if he will publish a risk analysis of the potential financial effect of easing the covid-19 lockdown on (a) individuals and (b) businesses.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

On 10 May, the Prime Minister set out a conditional plan for reopening certain economic activities, whilst continuing to suppress the outbreak.

Further details on the Government’s COVID-19 recovery strategy can be found at: https://www.gov.uk/government/publications/our-plan-to-rebuild-the-uk-governments-covid-19-recovery-strategy.

We will continue to monitor developments to understand the impacts of COVID-19 on individuals and businesses.

The Government has announced unprecedented support for business and workers to protect them against the current economic emergency including around £300 billion of guarantees – equivalent to approximately 15% of UK GDP.

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