Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the risks to the UK economy of covid-19 in (a) 2020 and (b) 2021.

The government is actively monitoring the outbreak and is well prepared for any effect it may have on the UK economy. The impact of the Covid-19 outbreak on the UK economy is highly uncertain and it is too early to assess the impact. As an open economy, the UK is exposed to a global economic slowdown caused by Covid-19.

Decisions taken since 2010 mean the public finances have been restored, the economy has grown each year and we have reached near record levels of employment. Those strengths mean we are well-placed to deal with any potential impact caused by Covid-19.