Economic Update
Owen Thompson Excerpts(4 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Rishi Sunak
As I have already said, the French Government announced €300 billion of loan guarantees yesterday. We have gone a step further with £330 of loan guarantees, equivalent to 15% of our GDP, to provide the same level of support. Beyond that, the fiscal measures that we have taken between last week and today are comparable in scale to those undertaken by any major economy.
Owen Thompson (Midlothian) (SNP)
The introduction and increase of grants is a welcome step in the right direction, but a number of food and drink producers in my constituency have seen the outlet for their produce dry up, so what additional support can be offered to help keep such companies afloat?
Rishi Sunak
The measures announced today, whether the loan or other guarantee schemes, will be of significant support to those businesses, and the measures we announced last week will also help the employees. As I have said previously, we are looking at more measures in all areas, and I will update the House at things develop.