Economic Outlook and Furlough Scheme Changes Debate
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Owen Thompson
Main Page: Owen Thompson (Scottish National Party - Midlothian)Department Debates - View all Owen Thompson's debates with the HM Treasury
Economic Outlook and Furlough Scheme Changes
Owen Thompson Excerpts(4 years, 5 months ago)
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Jesse Norman
No, the rules are as laid out in the guidance on gov.uk. They have a start date at the end of the month and we are in the final three-week coronavirus job retention scheme period, but as my hon. Friend says, we are very much hoping for and working towards a much wider reopening after or around the first week of July. That will potentially be a critical move forward for the country in its response to the pandemic.
Owen Thompson (Midlothian) (SNP)
The Chancellor stated that his priority was
“to support people, protect jobs and businesses through this crisis”,
yet businesses are on a financial cliff edge. Given today’s employment and vacancy rates, and the OECD prediction that the UK is likely to suffer one of the worst slumps in the developed world, does the Minister share my concern that ending support schemes too early will simply push many off a precipice?
Jesse Norman
Of course we want to ensure that there is a phased return to normality. That is what the delay and the extension of the two schemes is designed to do, so we do recognise that concern. I remind the hon. Gentleman that the OECD has predicted the strongest bounce back for this country. That may well be because of our extremely flexible labour markets, from which I hope we continue to benefit as we come out of this dreadful situation.