Public Sector Pay
Debate between John Glen and Gavin Newlands(1 year, 4 months ago)
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John Glen
I absolutely agree. That is indeed what we expect to see in the coming days. This is a tough decision based on evidence as well as what is right for the economy and the public sector as a whole. I hope that that is what happens in the coming hours and days.
Gavin Newlands (Paisley and Renfrewshire North) (SNP)
The truth is, the UK is in real trouble, and it is our constituents through sky-high mortgage rates and food prices who are paying the price. Our public finances are more exposed to rising inflation than other comparable countries. The UK has borrowed twice the inflation-linked bonds of any other Government. What the Government pay to borrow has risen by 2%, compared to the G7 average of 0.5%. The OBR says that UK Government debt is forecast to rise by 3.1% of GDP this year, compared with average falls of 1.8% in other European countries. Will the Minister come clean with the House and our constituents about just how close his Government have driven us to the economic precipice?
John Glen
I do not accept virtually anything that he said. What I do accept is that the whole of the world is dealing with massive inflation pressures, and if we look across the continent of Europe, we see very similar figures. Of course, they differ in some respects, but the Government are determined to bring inflation down, and today’s decisions are another contribution on that journey to halve inflation this year.
Covid-19: Government Support for Business
Debate between John Glen and Gavin Newlands(2 years, 11 months ago)
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Gavin Newlands (Paisley and Renfrewshire North) (SNP)
I just asked the Secretary of State for Transport about support for aviation and was given the Department for Transport’s greatest hits. The truth is that the aviation sector was hardest hit. Its recovery has been uneven and the weakest in Europe. It will need support. Measures already brought in, such as the coronavirus large business interruption loan scheme, will have to be extended for some sectors, in the same manner as CBILS. Thousands of jobs have gone in my constituency. Does the Treasury actually understand how serious the situation is?
John Glen
Yes, we do, and that is why we have given £12 billion of loan guarantees through the covid corporate financing facility for the aviation sector. At the Budget, we put in the airport and ground operations support scheme to help with fixed costs over the next six months. Of course I recognise that the situation is having a significant impact on the sector and the Government will remain engaged to support where we possibly can.