Economy

Baroness Stroud Excerpts

Monday 28th September 2020 Lords Chamber

[Lord Agnew of Oulton (Con)]

My Lords, universal credit has turned out to be a total game-changer for those thrown out of work by this crisis. It has been extraordinarily flexible. If we look at the past three or four years, we have always responded to criticism and have improved universal credit when it has been clear that it needed improving, and I can assure the noble Lord that I will make sure that the report to which he referred is made available to my right honourable friend.

[Baroness Stroud (Con) [V]]

My Lords, since the coronavirus pandemic has struck, two in three, or 65%, of those employed and in deep poverty prior to the crisis have seen reduced hours or earnings, been furloughed and/or have lost their job. I welcome the Chancellor’s strategy of balancing measures to combat the spread of the virus with measures to preserve viable jobs and grow the economy, but what is the Minister’s strategy for ensuring that those who are working and already on the lowest of incomes are protected at this time, particularly as the nature of the work they undertake is often already less stable?

[Lord Agnew of Oulton (Con)]

My Lords, the furlough scheme has protected probably millions of jobs. That was the idea of it. We continue to want to protect jobs that are viable in sectors that will recover quickly. Beyond that, the emphasis, particularly for lower-paid people, is on skills upgrading and training, and that has to be the future for the group of people that my noble friend refers to.