Eighth Report: Economic impact of coronavirus: the challenges of recovery

Select Committee
Treasury Committee HC 271 11 September 2020
Report Status Government responded
Conclusions & Recommendations 30 items (20 recs)
Source View on Parliament website
Government Response (AI assessment · 29 of 30 classified)
Accepted 10
Accepted in Part 1
Acknowledged 6
Deferred 4
Not Addressed 6
Rejected 2
Government response
Fifth Special Report: Economic impact of coronavirus: the challenges of recovery: Government Response to the Committee’s Eighth Report of Session 2019–21 · published 20 Nov 2020
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Recommendations & Conclusions

4 results
13 Recommendation Deferred
The Treasury should evaluate whether there needs to be a new state body or a...
Recommendation
The Treasury should evaluate whether there needs to be a new state body or a remodelling of the British Business Bank, to provide loans at speed in a crisis if required, and to also play a part in recapitalising businesses … Read more
Government Response Summary
The government notes the British Business Bank's key role in the COVID-19 response and states it will consider lessons learned from this experience to inform future recovery phases. It also describes existing mechanisms for supporting strategically important companies.
HM Treasury
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14 Conclusion Deferred
Para 121
One legacy of the crisis will be a sharp rise in the level of public...
Conclusion
One legacy of the crisis will be a sharp rise in the level of public debt and, possibly, an ongoing rise in borrowing. This has been and will be necessary to contain the economic damage from Coronavirus and does not … Read more
Government Response Summary
The government acknowledges the need to ensure the long-term health of public finances but defers setting out a detailed roadmap or revised fiscal framework until "in due course," as the economic and fiscal outlook becomes clearer.
HM Treasury
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15 Recommendation Deferred
Para 122
The Chancellor should, at the next fiscal event, set out an initial roadmap of how...
Recommendation
The Chancellor should, at the next fiscal event, set out an initial roadmap of how he intends to place Government finances on a sustainable footing. The milestones on that roadmap will need to be flexible—tax increases imposed too early are … Read more
Government Response Summary
The government acknowledges the need to ensure the long-term health of public finances but defers setting out a detailed roadmap or revised fiscal framework until "in due course," as the economic and fiscal outlook becomes clearer.
HM Treasury
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17 Conclusion Deferred
Para 138
We welcome initiatives by the ONS to improve the quality of its regional data, for...
Conclusion
We welcome initiatives by the ONS to improve the quality of its regional data, for instance by producing quarterly regional GDP figures. The Treasury publishing regional data in its March Budget is also a good first step towards increasing the … Read more
Government Response Summary
The government clarifies that the OBR's mandate is primarily national, as defined by the Budget Responsibility and National Audit Act 2011, though it undertakes some sub-national work. This implies that a broader role in monitoring "levelling up" is outside its remit.
HM Treasury
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