Economic Update

Clive Efford Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

As I said before, we will get through this as one United Kingdom. We have provided Barnett consequentials early and in advance to devolved authorities, and I very much hope that we can take a joint approach to supporting businesses, public services and individuals through this difficult time.

[Clive Efford (Eltham) (Lab)]

The notes that have been handed out from the Vote Office tonight say “Statement to the Press”, not to the House of Commons. I do not think there is any difference between what the Chancellor has said to the House and what was said to the press earlier on, and that should not happen again.

Are businesses that are strapped for cash flow likely to take out a loan rather than lay staff off? Is it not assistance with paying wages that they do not have to pay back later that those businesses need? They do not need more debt from the Government; they need help with paying wages.

[Rishi Sunak]

As we have already outlined, in addition to the extensive loan guarantee scheme, we have also announced significant cash grants to business to provide immediate cash flow relief to them. With regard to employment support, as I have said, that is our next urgent priority.