Economy Update

Christine Jardine Excerpts

Wednesday 16th June 2021 Commons Chamber

[Steve Barclay]

We want to ensure that the whole of the UK can benefit from freeports, and that is why we remain committed to establishing at least one freeport in Scotland, Wales and Northern Ireland as soon as possible. As in England, a Welsh freeport will be chosen according to a fair, open and transparent allocation process.

[Christine Jardine (Edinburgh West) (LD)]

My thoughts and sympathies are with the family of Jo Cox on what must be a very difficult day for them.

The Chief Secretary to the Treasury has just been patting the Government on the back for what he calls “going long”, but does he appreciate that it does not feel that way for all the businesses facing another month of restrictions, during which time many will have to find 10% of salaries for furloughed staff, face increased VAT in hospitality, retail and leisure, and think about repaying bounce back loans without being able to trade again? When exactly will the Government abandon this piecemeal approach and reveal the long-term strategy for recovery and the extension of furlough and VAT holidays on which so many businesses, communities and families in this country depend for their future?

[Steve Barclay]

No one is saying that next month those businesses have to repay their bounce back loans. We have already extended the furlough and we have provided a huge amount of support to the businesses concerned. I have addressed some of the questions in relation to the business relief, VAT, the extension of the furlough scheme, the restart grants of up to £18,000 and the £2 billion of discretionary grant funding to local authorities. A comprehensive package of support has been offered, and it is simply not the case that these loans must be immediately paid back or that support has not been extended in line with the road map.