Select Committee · Treasury Committee

Economic impact of coronavirus

Status: Closed Opened: 19 Mar 2020 Closed: 20 Jan 2022 35 recommendations 19 conclusions 3 reports

In the first stage of its economic impact of the coronavirus inquiry, the Committee issued a call for evidence on the speed, effectiveness and reach of the Government’s and Bank of England’s immediate financial responses to coronavirus. The Committee highlighted gaps in support to the Treasury. In the second stage, the Committee examined the impact … Show more

Clear

Reports

3 reports
Title HC No. Published Items Response
Eleventh Report - Economic impact of coronavirus: gaps in s… HC 882 15 Feb 2021 24 Responded
Eighth Report: Economic impact of coronavirus: the challeng… HC 271 11 Sep 2020 30 Responded
2nd Report - Economic impact of coronavirus: Gaps in support HC 454 15 Jun 2020 0 Responded

Recommendations & Conclusions

2 items
10 Recommendation Eighth Report: Economic impact of coron… Accepted in Part

The Government has raised Universal Credit and made it easier to access.

The Government has raised Universal Credit and made it easier to access. However these changes are time-limited for a year. The Government should consider extending the measures increasing the generosity and accessibility of Universal Credit put in place in March 2020. The Government should also conduct a study to examine … Read more

Government response AI summary
The government states that the £20 increase in Universal Credit will continue until April 2021, partially addressing the call for extended generosity. However, it only references existing enhanced Statutory Sick Pay provisions rather than committing to conducting a study on its adequacy and eligibility.
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HM Treasury
12 Recommendation Eleventh Report - Economic impact of co… Accepted in Part

The Treasury should in its response to this report provide: • the number of people...

The Treasury should in its response to this report provide: • the number of people with self-employed income as their main source of income in the 2019–20 financial year; • the proportion of the self-employed who had more than £50,000 trading profits in the 2019–20 financial year; • the median … Read more

Government response AI summary
The government provides partial data, giving statistics for 2018-19 and up to October 2020 for some points, and notes when SEISS statistics are updated, but states it does not have an assessment of the costs for implementing the committee's recommendations.
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HM Treasury

Correspondence

51 letters
DateDirectionTitle
14 Apr 2021 Correspondence from the Chief Secretary to HM Treasury, relating to procurement…
17 Feb 2021 To cttee Letter from the Association of Chartered Certified Accountants (ACCA), relating…
10 Feb 2021 From cttee Letter to Chair from Jonathan Athow, Office for National Statistics, regarding …
8 Feb 2021 From cttee Letter to Chair from Caroline Miskin, Technical Manager (Practitioner Support),…
3 Feb 2021 To cttee Letter from Chair to Tom Scholar regarding economic analysis and gaps in suppor…
3 Feb 2021 To cttee Response from Tom Scholar to Chair regarding economic analysis and gaps in supp…
21 Oct 2020 To cttee Letter from the Chancellor relating to the expansion of the Job Support Scheme,…
16 Sep 2020 To cttee Letter from the Chancellor of the Exchequer relating to follow-up from the evid…
4 Sep 2020 To cttee Letter from the Chancellor of the Exchequer re Committee session on 15 July 2020
1 Sep 2020 To cttee Letter from the Office for National Statistics regarding the economic impact of…
23 Jul 2020 Correspondence from Steve Baker MP to the Chancellor following the Committee’s …
21 Jul 2020 To cttee Letter from the Chancellor of the Exchequer re local lockdown in Leicester, dat…
15 Jul 2020 Correspondence from Chancellor relating to changes to Stamp Duty Land Tax, date…
15 Jul 2020 Correspondence from Chancellor relating to responses to correspondence from MPs…
9 Jul 2020 To cttee Letter from the Prime Minister to Chair relating to COVID-19, dated 16 June 2020
9 Jul 2020 To cttee Letter from Governor of the Bank of England relating to the Treasury Committee …
8 Jul 2020 Chancellor Response regarding COVID19 tests by employers
7 Jul 2020 To cttee Letter from Chair of TSC to Chancellor re COVID-19 tests by employers- taxable …
7 Jul 2020 To cttee Letter from Jon Moulton to Chair relating to Future Fund, dated 22 June 2020
1 Jul 2020 To cttee Letter from Chair to Chancellor regarding local lockdowns, dated 1 July 2020