Additional Covid-19 Restrictions: Fair Economic Support

Ben Lake Excerpts

Wednesday 21st October 2020 Commons Chamber

[Steve Barclay]

My hon. Friend is absolutely right, and we debated this yesterday. Much of the debate is about tier 3, but there are businesses that are feeling the impact in tier 2, and we are acutely aware of that and we are discussing that with business leaders. The key issue there is that we have taken toggling measures, for example, the cut in VAT and the extension of the loans. |As he knows, as a senior business figure himself, cash flow is a huge issue for businesses, and the Chancellor has been very keen to work constructively with all business leaders, the trade unions and others, and to consult widely. We have been willing to listen and to extend, for example, the loans that were available in order to pick up exactly the point my hon. Friend makes in terms of businesses in tier 3.

[Ben Lake (Ceredigion) (PC)]

The Minister mentioned earlier that he will meet the Finance Ministers of Wales, Scotland and Northern Ireland later this afternoon. Is he in a position to tell the House whether he expects further support packages for Wales to be announced at that meeting ahead of the two-week firebreak that will come in on Friday?

[Steve Barclay]

We have a long-standing and established methodology in terms of support across the United Kingdom through the Barnett process that allows the broad shoulders of the United Kingdom—[Interruption.] I suspect that the hon. Member for Glasgow North (Patrick Grady) wants to come in on that point, so I will give way. It will be done through the Barnett process, but there are some specific issues raised, such as the guarantee, which we have discussed previously.