Economic Update

Debate between Lord Brady of Altrincham and Rishi Sunak

Monday 11th January 2021 Commons Chamber

[Rishi Sunak]

We have in fact put in place payments to financially support those who need help when they are asked to stay at home, and they are available up to £500. As we have now reduced over time the period of self-isolation, the real value of those payments has actually increased, in some cases by 20%, 30% or 40%, depending on when people were contacted. More generally, throughout this crisis the Government have always made sure that we look after the most vulnerable. That is clear in the measures that we have taken and clear in the data that was published over the summer showing that those on the lowest incomes have had their situation protected the most by this compassionate Conservative Government.

[Sir Graham Brady (Altrincham and Sale West) (Con)]

In normal times, a successful British aviation sector supports 1 million jobs in this country. Will the Chancellor look urgently at what can be done best to ensure a rapid recovery for the sector heading into the summer? In particular, as he prepares his Budget, will he look at whether it makes sense for us to have one of the highest levels of air passenger duty anywhere in the world?

[Rishi Sunak]

I thank my right hon. Friend for his question. He is right to passionately champion both our aviation and aerospace sectors, which are critical to our economy. I am grateful for the help that he gave in helping to design a test-to-release policy for quarantining arrivals, but also in campaigning for business rates relief for airports—up to £8 million per airport, which is benefiting dozens of our regional airports up and down the country. I will bear in mind his suggested measures for forthcoming Budgets, but, like him, I want to see our industry return to its strength.

Economic Update

Debate between Lord Brady of Altrincham and Rishi Sunak

Wednesday 8th July 2020 Commons Chamber

[Rishi Sunak]

I will not repeat my comments on an ever-extending furlough scheme. I do not think that that is the right thing to do. With regard to grants, we provided grants—£10,000 or £25,000—specifically to businesses in the retail, hospitality and tourism sector, and that is why those businesses did not necessarily have to use loans if they did not want to. They received that support early in this crisis, because we acknowledged the particular difficulty that they would face. The hon. Gentleman referred to the VAT cut, which was one of the significant asks—if not the significant ask—from industry, but there is also the “eat out to help out” discount that will drive tons of businesses and protect millions of jobs.

[Sir Graham Brady (Altrincham and Sale West) (Con)]

The Chancellor spoke about finding a new balance between safety and normality. Is it not time to look at moving away from the guidance that people should work from home if possible towards guidance that they should go to work if it is safe to do so? May I also urge him to reflect over the summer on whether a cut or suspension of air passenger duty would be the best way to get the aviation sector back to health for next year?

[Rishi Sunak]

My hon. Friend, as always, champions the aviation industry. He is right to do so, and, as he knows, we are committed to a review of aerospace taxation, so I will certainly bear that in mind. With regard to the guidance, I share with him an impatience to get our lives back to normal. I know what a difference it will make, not just to those businesses, but to all the ancillary businesses that are used to office workers being in their offices. That is something that we should hopefully look to address in the coming weeks and months as we progressively move back to a new normal.

The Economy

Debate between Lord Brady of Altrincham and Rishi Sunak

Monday 27th April 2020 Commons Chamber

[Rishi Sunak]

Different countries have done things in very different ways. The hon. Gentleman talked about the US; the US has no equivalent of our furlough scheme, which is probably the most significant economic intervention that we have put in place—it was up and running four weeks after I announced it and is already, as we speak, getting money to businesses to pay wages. He talked about other European countries; there is a range. We have now issued more CBILS loans than the equivalent scheme in Germany.

[Sir Graham Brady (Altrincham and Sale West) (Con)]

As we look ahead to a gradual lifting of restrictions on business in the coming weeks, will my right hon. Friend look for common-sense opportunities, such as allowing open-air markets to trade in the same way as supermarkets? Will he also look at changes to the furlough scheme to help it accommodate a gradual return to work?

[Rishi Sunak]

I thank my hon. Friend for his thoughtful comments. I know he has put a lot of personal time and energy into thinking about these things, and I welcome his engagement with me. He makes very interesting suggestions. As the Prime Minister said this morning, there will be gradual refinements to the social and economic restrictions, and my hon. Friend is right to highlight that that is exactly how the process will work, whether that is the restrictions or, indeed, how we remove some of the economic interventions that we have put in place.