Covid-19: Economy Update Debate

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Department: HM Treasury

Covid-19: Economy Update

Alex Norris Excerpts
Thursday 22nd October 2020

(3 years, 6 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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My hon. Friend is absolutely right on his last point. We are lucky to benefit from the considerable business experience that he brings to this place. He is right that, in business as in public policy, it is right that we evolve and adapt to the circumstances. That is what we have done today, but it is right that we do it in a targeted, tiered way, not with the blunt national instrument that, as he rightly says, would unnecessarily cause hardship and cost jobs.

Alex Norris Portrait Alex Norris (Nottingham North) (Lab/Co-op)
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I understand that at half-past 4 today a Government Minister will meet local leaders in Nottingham to put us into the third tier. We had to find that out through the media, because local Members of Parliament have not been invited, which is saddening. If measures need to be taken to protect the health and wellbeing of our community, we will of course support them, but they will have a profound impact on our local economy. If Nottingham moves into tier 3 this afternoon, what package of support will the Chancellor put in place to protect our jobs and businesses?

Rishi Sunak Portrait Rishi Sunak
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I know that it is a difficult time for the hon. Gentleman’s constituents, and he is right that they should engage constructively. I am glad that he and his local area are doing that. There will be a variety of support available. Closed businesses will receive grants of up to £3,000 a month, paid centrally. Obviously, similar to other areas, there will be a negotiation and a conversation with the Secretary of State for Housing, Communities and Local Government, which will result in an amount of support being provided for businesses. Of course, as the hon. Gentleman will know, there is also a formula to provide the local authority with support of up to £8 per head, and that money is used to enhance local compliance enforcement and contact tracing. I know that those conversations are ongoing and I very much hope that they will have a constructive outcome.