Covid-19: Economy

Baroness Bennett of Manor Castle Excerpts

Thursday 30th April 2020 Lords Chamber

Asked by

[Baroness Bennett of Manor Castle]

To ask Her Majesty’s Government what plans they have to protect the prosperity and wellbeing of British citizens from the effects of the COVID-19 pandemic on (1) the United Kingdom’s gross domestic product, and (2) the global economy.

The Question was considered in a Virtual Proceeding via video call.

--- Later in debate ---

[Baroness Penn (Con)]

My Lords, the Covid-19 pandemic is the biggest threat this country has faced in decades and we know that people are worrying about their livelihoods, as well as their health. That is why the Government have announced unprecedented support for public services, workers and businesses. These measures include, but are not limited to, £14 billion for public services, the Coronavirus Job Retention Scheme and guaranteed loans for businesses that will help protect them against the emergency and ensure that our economy recovers quickly.

[Baroness Bennett of Manor Castle (GP)]

I thank the noble Baroness for her Answer. I quote from a Conservative Party press release of 16 September 2019:

“Strong … economic growth means more money for our public services.”


Our economic management has relied on growth for employment, pensions and health. We have an expectation of a very large fall in GDP as a result of coronavirus, and years of recovery. Will the Government be making plans along the lines of the German Government’s 2018 report on the precautionary post-growth approach?

[Baroness Penn]

The Government are putting in place measures to respond to this crisis to protect against the economic harm that is being done now so that we can bounce back quickly. That is exactly why we have put in place schemes such as the job retention scheme, so that we can protect people while we have to have social distancing measures in place and ensure that the economy bounces back afterwards.