Economic Update

David Mundell Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

Depending on the particular circumstances of the person who is self-employed, they may well qualify for ESA, which is also available from day one now, rather than day eight.

[David Mundell (Dumfriesshire, Clydesdale and Tweeddale) (Con)]

I was very pleased this evening when Nicola Sturgeon confirmed to me promptly that every penny of the likely £1.9 billion that the Scottish Government will receive as a result of today’s announcement will go directly to businesses and individuals. It is very important that we have that common approach across the United Kingdom from Governments, but it is also important that we have a common approach from banks. The Chancellor has referenced the banks in relation to his loan and grant schemes, but many businesses have existing loan arrangements with the banks. What confirmation does he have from the banks that they will not seek to change those arrangements or to take advantage of the situation where people may be able to get Government money to repay those loans?

[Rishi Sunak]

I can tell my right hon. Friend that we have had extensive discussions with the banks just this week, and they have outlined their forbearance measures. I very much expect them to honour those commitments. He is absolutely right with his point that we will get through this as one United Kingdom.