Chancellor Rishi Sunak has been questioned by MPs on the Commons Treasury Select Committee about the economic impact of coronavirus.
Watch the replay of the livestream to hear his answers to questions about his mini-Budget last week, the furlough bonus, the triple lock on pensions and the economic impact of Covid-19 on women.
In the committee session, Chancellor Rishi Sunak defended his controversial jobs retention bonus saying it provided a “significant incentive” for firms to retain staff who would otherwise be laid off.
Mr Sunak was forced to issue a ministerial direction requiring the scheme announced last week to go ahead after the head of HM Revenue and Customs formally questioned whether it represented value for money.
Giving evidence to the Commons Treasury Committee, the Chancellor said the “vast majority” of the Government financial support schemes during the coronavirus crisis had required such directions.
“I firmly believe that it will and can make a difference,” he said.
“I think the way it is designed, particularly for those who are lower paid, it will serve as a significant incentive and reward to those especially small and medium sized companies to protect employment.
“We have the prospect of many people losing their jobs. I am determined to do what I can to protect as many of those jobs as possible and this I believe will help do that.”
Read more about his committee appearance here: https://www.telegraph.co.uk/politics/2020/07/15/politics-news-boris-johnson-brexit-compulsory-mask-office-lockdown/?WT.mc_id=tmg_youtube_offsite_televideo-youtubevideo_July15Sunaklivestream&utm_source=tmgoff&utm_medium=tmg_youtube&utm_content=offsite_televideo&utm_campaign=tmg_youtube_offsite_televideo-youtubevideo_July15Sunaklivestream
Get the latest headlines: https://www.telegraph.co.uk/
Telegraph.co.uk and YouTube.com/TelegraphTV are websites of The Telegraph, the UK’s best-selling quality daily newspaper providing news and analysis on UK and world events, business, sport, lifestyle and culture.
In This Story: Brexit
Brexit is the name given to the United Kingdom’s exiting the European Union, which happened on 31 January 2020, following a narrow “Leave” referendum result in a June 2016 vote on EU Membership which took place in the country. News items related to Brexit are posted, below, chronologically, with the most recent items at the top, from a variety of outlets.
3 Recent Items: Brexit
In This Story: COVID-19
Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.
Symptoms of coronavirus
The main symptoms of coronavirus are:
- a persistent new cough (non productive, dry)
- a high temperature (e.g. head feels warm to the touch)
- shortness of breath (if this is abnormal for the individual, or increased)
Latest News about Covid-19
Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.
5 Recent Items: COVID-19
In This Story: Lockdown
3 Recent Items: Lockdown
In This Story: Rishi Sunak
Rish Sunak is a British Conservative Party MP, who was originally elected as a Member of Parliament in the Richmond (Yorks) constituency in 2015, despite having a limited political background.
His father-in-law is billionaire founder of Indian IT giant, Infosys, NR Narayana Murthy.
Sunak experienced a meteoric rise, first to be selected for the “safest” Conservative seat in the UK, without having ever contested an election; he would later become the UK Chancellor of the Exchequer in under five years.
7 Recent Items: Rishi Sunak
In This Story: UK
UK is the abbreviated form of the United Kingdom of Great Britain.