The Treasury Committee published its Interim Report as part of its inquiry into the Economic Impact of Coronavirus called Gaps in Support on 15 June 2020.

The conclusions from the Treasury Committee’s report on the economic impact of coronavirus include:

  • Over a million people have fallen through the gaps of Government’s coronavirus support schemes
  • Treasury Committee makes recommendations to help those in need of support
  • The government should enact recommendations to fulfil its promise of “doing whatever it takes” to protect people and businesses from the impact of coronavirus

Chair’s comments

The Committee has published the Government’s response to the Report. Commenting on the response, Rt Hon. Mel Stride MP, Chair of the Treasury Committee, said:

“The Chancellor has effectively drawn a line under helping the million-plus people who have been excluded from support for four months.

Despite stating that he will not pick winners and losers when it comes to sectors and businesses that need support, the Chancellor has done this when it comes to households and individuals.

The Chancellor said that the schemes were designed to be open and accessible to as many people as possible, but the Committee remains to be convinced that more people could not have been helped.

The Chancellor initially told those at risk of losing their livelihoods that they would not be forgotten. While the Government is clear that it is moving on to the next phase of its recovery plan, it cannot just turn its back on those who are suffering.

The Committee urges the Government to re-think its position.”

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