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1257418

registered interest
date	01/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the effect of the Spending Review 2020 on the UK’s economic recovery from the COVID-19 pandemic.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL10984
answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>The OBR set out their latest forecasts of the economy and public finances in in their November Economic and Fiscal Outlook<sup><sup>[1]</sup></sup>. The forecasts take into account the effect of measures announced in Spending Review 2020.</p><p> </p><p>The OBR note that “real GDP would have taken a materially-weaker near-term path”<sup><sup>[2]</sup></sup> in the absence of measures announced since the Summer Economic Update. They also note that “in the medium term, the economic recovery is supported by the strong growth in public investment announced in the March Budget”<sup><sup>[3]</sup></sup>.</p><p> </p><p>[1] OBR Economic and Fiscal Outlook November 2020 <a href="https://obr.uk/efo/economic-and-fiscal-outlook-november-2020/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-november-2020/</a></p><p> </p><p>[2] Page 32, Box 2.1: The impact of fiscal policy on GDP growth and unemployment</p><p>[3] Page 12, paragraph 1.24</p> answering member printed Lord Agnew of Oulton question first answered 15/12/2020 17:01:55 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1257446

registered interest
date	01/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the comparative effect of the COVID-19 financial support package on regional economies.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL10988
answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>The government recognises that every region is feeling the impact of this crisis and has taken unprecedented steps to support people and businesses across the country.</p><p> </p><p>For example, the government has helped over one million employers furlough 9.6 million employments throughout the country, and supported over £60 billion of loans. Regional breakdowns of the uptake of the income support schemes are regularly published on the government’s website.</p><p> </p><p>Additionally, we recognise the impact of local restrictions on businesses and this is why we continue to provide monthly grants to both open and closed businesses in tiers 2 and 3, of up to £2,100 and £3,000 respectively, through the Local Restrictions Support Grants. This is in addition to the funding provided to local authorities in tiers 2 and 3 to enable them to make grants of £1,000 to all wet-led pubs, and the Additional Restrictions Grant, that provided all local authorities with a one-off payment to support their local economies in the Autumn, worth £20 per head.</p><p> </p><p>We collect and monitor regional data on how our economic support schemes are used at regional and local authority level. No final assessment of the impact of the economic support schemes can yet be made.</p> answering member printed Lord Agnew of Oulton question first answered 15/12/2020 16:57:16 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1204167

registered interest
date	16/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	Her Majesty's Government what assessment they have made of the findings in the report by McKinsey & Company COVID-19 in the United Kingdom: Assessing jobs at risk and the impact on people and places that (1) “UK Gross Domestic Product in 2020 is expected to shrink by 9 per cent”, (2) “7.6 million jobs are at risk”, (3) “people and places with the lowest incomes are the most vulnerable to job loss… with nearly 50 per cent of all the jobs at risk are in occupations earning less than £10 per hour”; and what measures they intend to put in place to address those findings.
tabling member printed	Lord Alton of Liverpool
uin	HL5742
answer	answer is ministerial correction date of answer 30/06/2020 answer text <p>The UK, along with the rest of the world, is continuing to face significant economic disruption in the wake of the Covid-19 pandemic, with both the OBR and Bank of England publishing scenarios that are consistent with significant falls in GDP this year.</p><p> </p><p>The Government has announced unprecedented support for the economy, including via the Coronavirus Job Retention Scheme, the Self-Employment Income Support Scheme, the Coronavirus Business Interruption Loan Schemes and the Bounce Back Loan Scheme. However, despite these policies, there will be challenging times ahead, and we will not be able to protect every single job or save every single business.</p><p> </p><p>The Government is committed to supporting the lowest paid workers and helping unemployed people go back into work and so is continuing to review what can be done to support those most vulnerable to job loss and to aid the UK’s economic recovery. We are working to ensure our labour market policy response is appropriate and effective.</p> answering member printed Lord Agnew of Oulton question first answered 30/06/2020 15:56:02 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	738 label Biography information for Lord Alton of Liverpool

1202112

registered interest
date	09/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	Her Majesty's Government what assessment they have made of the economic impact the restrictions in place to address the COVID-19 pandemic has had on university cities and towns; and what financial assistance, if any, they intend to provide.
tabling member printed	Lord Pendry
uin	HL5472
answer	answer is ministerial correction date of answer 23/06/2020 answer text We recognise that every region and community will be feeling the impacts of this crisis and we are working to monitor the impact of Covid-19 on local communities across the United Kingdom.<p> </p>In May, we announced measures to support students and universities. These included bringing forward £100m of research funding for vital research, and an estimated £2.6bn worth of tuition fee payments for providers to help manage cash flow.<p> </p><p>The Government has also confirmed that providers are eligible to apply for its support packages, including business loan support schemes, which the Office for Students (OfS) the regulator in England, estimates could be worth at least £700m to the sector, depending on eligibility and take up.</p><p> </p>We are working closely with local areas to make sure that individuals and businesses in all regions are directed to the right support during this difficult period. answering member printed Lord Agnew of Oulton question first answered 23/06/2020 16:48:39 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	457 label Biography information for Lord Pendry

1199332

registered interest
date	02/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	Her Majesty's Government what estimate they have made of the impact of a decrease in GDP as a result of the COVID-19 pandemic on (1) legislative, and (2) manifesto, commitments for expenditure as a percentage of GDP.
tabling member printed	Lord Moonie
uin	HL5048
answer	answer is ministerial correction date of answer 12/06/2020 answer text <p>The UK’s fiscal council, the Office of Budget Responsibility, makes forecasts for GDP. They have published a coronavirus reference scenario, which they continue to develop and update, which can be found on the Office for Budget Responsibility’s website. In their public commentary the Office for Budget Responsibility have said that the fiscal and monetary support measures of the UK authorities “help to limit the adverse impact on potential output and thus future GDP once the crisis has passed”.</p><p> </p><p>The government will take stock of the impact of the covid-19 public health and economic emergency on the forecast for the economy and public finances through the Budget process. Further details of spending plans will be set out in due course, including through a Spending Review later this year.</p> answering member printed Lord Agnew of Oulton question first answered 12/06/2020 13:57:37 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	621 label Biography information for Lord Moonie

1196858

registered interest
date	18/05/2020
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what further initiatives they will put in place to build and maintain a consensus with Parliament, devolved administrations and local governments on how the national interests can best be met as the restrictions in place to address the COVID-19 pandemic are lifted and they seek to rebuild the economy.
tabling member printed	Baroness Drake
uin	HL4569
answer	answer is ministerial correction date of answer 02/06/2020 answer text <p>Protecting the health and safety of the public is, and must always be, our top priority. The UK Government is working with the Devolved Administrations and local government to keep the whole of the UK safe. For example, back to work guidance documents have been developed in consultation with approximately 250 businesses, unions, industry leaders as well as the Devolved Administrations.</p><p>The Ministry of Housing, Communities and Local Government is working with local resilience forums to coordinate the response of local public services, and provide support to the most vulnerable in our communities. The department has published guidance here for local councils during the coronavirus outbreak:</p><p><a href="https://www.gov.uk/guidance/coronavirus-covid-19-guidance-for-local-government" target="_blank">https://www.gov.uk/guidance/coronavirus-covid-19-guidance-for-local-government</a></p><p>It is vital that Parliament can continue to scrutinise the Government and legislate to support the coronavirus response.</p><p> </p> answering member printed Lord True question first answered 02/06/2020 14:16:12 answering member 4200 label Biography information for Lord True
tabling member	4155 label Biography information for Baroness Drake

1195858

registered interest
date	13/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their (1) economic, and (2) financial, strategy for the post COVID-19 pandemic period.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL4434
answer	answer is ministerial correction date of answer 26/05/2020 answer text <p>The Treasury’s priority is to support the economy through the immediate crisis. We have taken unprecedented steps to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable. These measures aim to protect the productive capacity of our economy and to enable a strong and sustainable recovery from this crisis.</p><p> </p><p>It is clear that the impact on the economy and the government's necessary response will lead to an increase in borrowing in the short-term. However, the Office for Budget Responsibility note that the measures taken should help limit the long-term damage to the economy and public finances – and the costs of inaction would have been higher.</p><p> </p><p>The government has set out a conditional roadmap for reopening certain economic activities, whilst continuing to suppress the Covid-19 outbreak. Our economic strategy will therefore be closely coordinated with the public health strategy to ensure a safe return of economic activity. What we are thinking about first and foremost is protecting people's health, protecting people's jobs and supporting businesses. As we exit the current crisis, we will take stock of the economy and public finances and make the right decisions at that point.</p> answering member printed Lord Agnew of Oulton question first answered 26/05/2020 13:40:05 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1191893

registered interest
date	29/04/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they intend to take to revive the economy following the lifting of restrictions put in place to address COVID-19.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL3711
answer	answer is ministerial correction date of answer 14/05/2020 answer text <p>The Treasury’s priority is to support the economy through the immediate crisis. We have taken unprecedented steps to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable. These measures aim to protect the productive capacity of our economy and to enable a strong and sustainable recovery from this crisis.</p><p>On 10 May, the Prime Minister set out the government’s conditional plan for reopening certain economic activities, whilst continuing to suppress the outbreak. Our economic strategy will therefore be closely coordinated with the public health strategy to ensure a safe return of economic activity.</p> answering member printed Lord Agnew of Oulton question first answered 14/05/2020 13:47:47 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1191894

registered interest
date	29/04/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what discussions they (1) have had, and (2) intend to have, with the devolved administrations about their plans for the revival of the UK economy following the lifting of restrictions put in place to address COVID-19.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL3712
answer	answer is ministerial correction date of answer 14/05/2020 answer text The Treasury’s priority is to support the whole UK economy through the immediate crisis. The devolved administrations are working closely with the UK government on a UK-wide response and there is regular engagement on economic issues, including plans on economic recovery.<p> </p>The Government has taken unprecedented steps to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable. These measures aim to protect the productive capacity of the whole UK economy and to enable a strong and sustainable recovery from this crisis. answering member printed Lord Agnew of Oulton question first answered 14/05/2020 13:40:18 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1189765

registered interest
date	21/04/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the economic impact of the COVID-19 pandemic on different age groups.
tabling member printed	Lord Price
uin	HL3282
answer	answer is ministerial correction date of answer 05/05/2020 answer text <p>There is currently insufficient data to enable us to assess the precise economic impacts of the COVID-19 pandemic on individual groups.</p><p> </p><p>We recognise the challenges the current crisis is having on all groups in society, including the most vulnerable.</p><p> </p><p>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.</p><p> </p> answering member printed Lord Agnew of Oulton question first answered 05/05/2020 11:01:52 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4570 label Biography information for Lord Price