Finance Bill

Baroness Northover Excerpts

2nd reading & Committee negatived & 3rd reading & 2nd reading (Hansard) & 2nd reading (Hansard): House of Lords & 3rd reading (Hansard) & 3rd reading (Hansard): House of Lords & Committee negatived (Hansard) & Committee negatived (Hansard): House of Lords
Friday 17th July 2020 Lords Chamber

[Baroness Northover (LD) [V]]

My Lords, we are in unprecedented times. We had a weak economy and have now been hit badly by coronavirus, which itself is having a massive effect globally, which will affect our future trading figures. Pandemics have long been on the UK’s risk register. The Government were distracted at the beginning of the year, wanting to project the union jack onto Big Ben on 31 January, rather than looking at what was happening in China, South Korea and, by then, on our doorsteps in Italy. The Government have also decided that we are leaving the single market and the customs union, decisions which cannot be laid at the door of the referendum, when those promoting leave promised that that would not happen.

The Government have now decided that we will leave the transition period with the EU at the end of the year. Have the Government made an assessment of leaving the EU in December or extending the transition period? If not, why not, and if so, will they publish it? One would hope that the Chancellor would apply his agile brain to this challenge. He should be commended for a number of his measures in the pandemic. As he looks to the future, it is the most vulnerable in society and building a green economy that must be key. There must be worry about older people, who may not get back into the jobs market again. There is, rightly, huge concern about unemployment levels among young people.

We compete globally as countries such as China and India are rising, with a great emphasis on training their young people, but we are undermining our higher education sector by leaving the EU, reducing our ability to join mutual research programmes and attract staff and students. What level of unemployment do the Government anticipate and what analysis have they made of it on an age and regional basis?

We have also become extremely grateful to those from overseas who have been helping in our hospitals, care homes and other essential services. The measures here set in place help for some of those in this crisis. The Government have suddenly seen how important they are. What are we doing to make sure this is sustained? Are we really now going to turn our backs on them?

As it looks like we are not heading for a V-shaped recovery, I look forward to the Minister’s response.