Treasury Committee calls for evidence on the effectiveness, cost and sustainability of coronavirus financial support packages

Committee seeks evidence on measures including the Coronavirus Job Retention Scheme and the Self-employment Income Support Scheme

The Treasury Select Committee is looking for evidence in relation to the operational effectiveness, cost and sustainability of the coronavirus financial support packages introduced by the government and the Bank of England.

Following its scrutiny of the speed and effectiveness of the immediate financial response to the COVID-19 outbreak as part of its inquiry into the economic impact of coronavirus, the Committee has today set out a call for evidence seeking views on their impact - on individuals, businesses, the economy and public finances - as the measures begin to go live.

In relation to financial support for employees and the self-employed - through the Coronavirus Job Retention Scheme (CJRS) and Self-employment Income Support Scheme (SEISS) - the Committee asks for views on the following questions -

• What problems (if any) are individuals facing in claiming support from the CJRS and SEISS?
• How effective have these schemes been in maintaining employment and reducing job losses?
• Is the government doing enough to ensure that businesses and individuals are claiming appropriately and that fraudulent claims are detected?
• Has the government struck the right balance between targeting support and making it easy to access?
• Where has government support been too generous and where has it not been generous enough?
• How successful has the government been in plugging the gaps in the schemes?
• What gaps in coverage still remain and are changes required to increase their effectiveness?
• How viable is it for the CJRS and the SEISS to be open for longer?
• How and when should the government’s support packages be wound up?
• How should the government prioritise which continuing sectors and groups to support as time goes on and ongoing support is needed?
• What actions does the government need to undertake to pursue to support a successful exit strategy?

NB - the deadline for submitting responses to the inquiry is 27 May 2020.

Commenting on the call for evidence, Chair of the Treasury Committee Mel Stride said -

'The Treasury Committee hit the ground running with its scrutiny of the economic impact of coronavirus. Through virtual evidence sessions, calls for evidence and correspondence, we’ve shone a light on the hard edges and delivery challenges of the government’s and Bank of England’s schemes.

As well as continuing to do this, we’ll begin to examine the effectiveness, cost and sustainability of support measures as they are beginning to go live.

The Committee will continue to work constructively with, and hold to account, the government and financial services sector to ensure as swift an economic bounce back as possible.'

For more information, see Next stage of inquiry into economic impact of coronavirus (COVID-19) launched from parliament.uk