Question
To ask Her Majesty's Government what assessment they have made of the analysis by the Boat Group, which found that UK (1) new, and (2) used, boat sales grew by 9 per cent in 2020; and what assessment they have made of the link, if any, between the purchase of such yachts and the payment of furlough money.
Answered on
8 February 2022
The objective of the Coronavirus Job Retention Scheme (CJRS) was to support businesses to preserve employer-employee matches by providing a mechanism to pay the wages of furloughed employees. Through easing the financial burden, the CJRS aimed to support jobs, reduce the risk of permanent business closures (supporting those that had temporarily ceased or reduced trading), and reduce the risk of large losses in incomes, through wage support to furloughed employees. In doing these things, the CJRS sought to reduce the risk of long-term labour market scarring, maintain the UK economy’s productive capacity through the crisis, and facilitate and support a smoother economic recovery.