The Economy

Alistair Carmichael Excerpts

Monday 27th April 2020 Commons Chamber

[Mr Alistair Carmichael (Orkney and Shetland) (LD) [V]]

I think we all understand that, as the Chancellor said, these schemes were designed at pace, but I have to tell him that here in the northern isles our economy is predominantly based on small businesses, where every day it becomes more apparent that there are too many people falling through the gaps, especially the self-employed, people working from home, and those relying on directors’ dividends for their income. If it is just too difficult to design a scheme to help all these people, will the Treasury now look seriously at the idea of a universal basic income? Yes, it might risk handing cash to people who do not actually need it now, but that can be clawed back through the tax system, and it will give help to people who are feeling desperate for it now.

[Rishi Sunak]

As I have said previously, I do not agree with a universal basic income. I do believe, though, that our schemes will benefit many, many millions of people, particularly the self-employed scheme, which will benefit over 3.5 million people who need it, and, indeed, the new bounce-back loan I announced today, which will also be available to those in self-employment with business accounts.