The Chancellor hit back at the SNP‘s Alison Thewliss stating that the furlough scheme had helped protect 9 million jobs. Mr Sunak added the furlough scheme is one of the most comprehensive and generous support packages available in the world.
The SNP MP said: “Will you agree with the SNP that we need a stimulus package of at least £80billion including a two percent cut to employers’ national insurance contribution and reducing VAT for the hospitality sector as demanded by the Scottish Government?
“If he does not believe these steps should be taken will he allow the Scottish Government to have the full sweep of financial powers that it requires to meet this challenge?”
Mr Sunak replied: “I am proud of what this Government has put in place and the speed in which it has done so.
“9 million people’s jobs have been protected from our furlough scheme.
“2.7 million self-employed have had their incomes supported.
“Millions of companies have received access to loans, grants and tax deferrals.
“In summary, this represents £130 billion of support, one of the most comprehensive.”
Earlier today the Resolution Foundation urged the Chancellor to further loosen the purse strings.
James Smith, research director at the Resolution Foundation, said: “The COVID-induced economic crisis is like no other crisis we’ve seen.
“And with interest rates already at record lows, the Chancellor will need to take the lead in delivering an ambitious policy response to secure Britain’s economic recovery.
“The measures the Chancellor announces in his mini-Budget tomorrow need to be big enough to reflect the size of the crisis we face, targeted at the sectors that need the most support, and flexible enough to cope with the uncertainties that lie ahead.
“A £200 billion fiscal stimulus should, therefore, focus on protecting jobs and supporting spending in hard-hit sectors of the economy, and reflect the fact that low-income households have found it far hardest to cope.”