Public Health Restrictions: Government Economic Support

Christine Jardine Excerpts

Tuesday 13th October 2020 Commons Chamber

[Steve Barclay]

It is about getting the right balance because, ultimately, the most damaging thing for those pubs in tier 2 would be a further escalation of the virus and a situation in which they faced further restrictions. We have sought to ensure, first, that they can continue trading through tier 2, while having alongside the package of support for jobs, which the Chancellor set out in our winter plan to back those jobs with Government support, as well as a cash flow package. Cash flow will remain a key challenge as we go through the winter crisis, which is why we have such an extensive package supporting cash flow.

[Christine Jardine (Edinburgh West) (LD)]

I am sure the Minister was as concerned as me to hear reports that those people with businesses who take out bounce back loans to help them to follow the Government rules and survive this economic crisis—not just in their interest, but in all our interests—could face action up to and including repossession of their home if they struggle to repay those loans. Will he reassure not just the House, but people across the country, including in my constituency of Edinburgh West, that this Government will not allow that misery to be heaped on the misery already being suffered?

[Steve Barclay]

The very favourable terms of the bounce back loans were designed to deliver with speed. This was an initial challenge of the coronavirus business interruption loan scheme; we received feedback from debate in the House and elsewhere that the speed was not there, so that was part of the design for the bounce back loans. Another part of the design was the Government guarantee to get that credit to people. We have extended access to that scheme and the possible repayment period, so that issue should not be crystallising at this point. Clearly we need to look at the risk with regard to repayments. As I said to the hon. Member for Aberavon (Stephen Kinnock), I am happy to work with colleagues around the House, but the hon. Lady will be well aware of the package of measures that we have put in place to protect people vis-à-vis their mortgage and to protect renters from eviction.