Question to the HM Treasury:

To ask Her Majesty's Government what is their (1) economic, and (2) financial, strategy for the post COVID-19 pandemic period.

The Treasury’s priority is to support the economy through the immediate crisis. We have taken unprecedented steps to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable. These measures aim to protect the productive capacity of our economy and to enable a strong and sustainable recovery from this crisis.

It is clear that the impact on the economy and the government's necessary response will lead to an increase in borrowing in the short-term. However, the Office for Budget Responsibility note that the measures taken should help limit the long-term damage to the economy and public finances – and the costs of inaction would have been higher.

The government has set out a conditional roadmap for reopening certain economic activities, whilst continuing to suppress the Covid-19 outbreak. Our economic strategy will therefore be closely coordinated with the public health strategy to ensure a safe return of economic activity. What we are thinking about first and foremost is protecting people's health, protecting people's jobs and supporting businesses. As we exit the current crisis, we will take stock of the economy and public finances and make the right decisions at that point.