Question to the HM Treasury:

To ask Her Majesty's Government what plans they have to recover the costs associated with measures announced to assist businesses and individuals during the COVID-19 pandemic.

The Government has announced unprecedented support for public services, business and workers to protect against the current economic emergency. These steps are necessary to ensure that the country, economy and public finances are stronger in the longer-term.

The Government has announced substantial support through loans and guarantees, and businesses remain responsible for repaying government-supported loans.

It is clear that the costs of other measures of the Government's necessary response, and the impact on the economy, will lead to an increase in borrowing this year. The Government expects this increase in borrowing to be temporary and intends to finance this through the Government’s normal debt management operations. The OBR note that the measures taken should help limit the long-term damage to the economy and public finances, and that the costs of inaction would have been higher.