Unemployment

Lord Caine Excerpts

Thursday 11th June 2020 Lords Chamber

[Lord Agnew of Oulton [V]]

The Government’s overarching priority is to reopen the economy as quickly as is safely possible. That is how the groups the noble Lord has referred to will be able to start earning their incomes again as quickly as they can. We have in place a suite of support mechanisms for all those who have been the hardest hit, including the groups listed by the noble Lord.

[Lord Caine (Con) [V]]

My Lords, some of the latest forecasts about the economy are extremely worrying, especially for younger people. Is it not the case that the best way to avoid levels of mass unemployment as we exit lockdown is through policies designed to promote enterprise and growth and to set businesses free? Does my noble friend agree that, in this respect, tax rises on business, tempting as that might be for some, would be absolutely fatal to recovery and employment right across the United Kingdom?

[Lord Agnew of Oulton [V]]

Of course we want to see businesses feeling confident in their approach to coming out of this crisis. However, I cannot give a commitment on behalf of the Chancellor on what the future tax structure will look like. These matters will have to be looked at in the light of how the economy responds over the next few months.