The Government has sat on its hands over the National Retraining Scheme. Ministers need to deliver it – with laid-off workers in the fast lane.
We are looking at a possible deep recession, with a big surge in jobless and the loss of substantial capacity to produce goods and services for the future.
The reason we will get away with it again, as we did in the banking crash, is that there is so much deflation around, inflation is not a problem.
By adapting the Statutory Maternity Pay system, the Chancellor’s Coronavirus Job Retention Scheme will improve the lives of thousands of people.
“Getting through this will require a collective national effort with a role for everyone to pay: people, businesses, government. It’s on all of us.”
The most significant part of his announcement was talks with employers and unions “to urgently develop new forms of employment support”.
The theoretical aim of policy then should be bridging over what is hopefully a short pause in activity – eliminating near-term distress for households and businesses.
Many of these matters can only be made on the basis of imperfect information. The advantage of the elected official making the ultimate decision is one of accountability.
Needed during the coming weeks: a Government information campaign for older people, their families, employers and businesses.
As Minister of Business and Industry, I will be working every day with those most at risk – whether in hospitality, tourism or travel.
For too long, the only organisations in this space have been big-business lobbies with a relentlessly negative attitude towards leaving the European Union.
Our priorities were: tackling global climate change, solving Grand Challenges and making the UK the best place in the world to work and to grow a business.
The Enterprise Investment Scheme has a crucial role to play in helping British SMEs reach their full potential in the global market.
My answer would be “maybe, provided the spending or tax cuts significantly improved our growth potential.”
Whatever model is adopted or whatever alternative proposal is deemed better, the public need to know that there is an exit strategy in place.