Parliamentary Search

Proceeding contribution from Lord Davies of Stamford (Labour) in the House of Lords on Wednesday, 18 March 2020. It occurred during Debate on Budget Statement.

Budget Statement

Is it not the case that what is really alarming here is that the collapse of consumer demand is likely to last for a very long time and that there is going to be a substantial negative-wealth effect, given that people will have been out of jobs while their businesses and indeed the stock market has collapsed? People will require years to build up their savings again to where they were before. That means that for a very long time there is going to be a substantial shortage of demand from the consumer sector.

Secondary information

Type
Proceeding contribution
Reference
802 c1477 
Session
2019-21
Chamber / Committee
House of Lords chamber
Subjects
Alcoholic drinks Business Climate change Borrowing Cinemas Broadband Housing Finance Flood control Education Income tax Infrastructure Excise duties Innovation Insurance Grants Fuels Fiscal policy Economic situation Economic policy NHS Museums and galleries Public expenditure Business rates Loans Music Public finance New businesses Public sector debt Transport Small businesses Regional planning and development Tax allowances Theatres Taxation VAT Retail trade Research Social services Restaurants Statutory sick pay Sanitary products Living wage Coronavirus Budget March 2020 Coronavirus business interruption loan scheme
Link
View this Proceeding contribution on hansard.parliament.uk