Covid-19 Update

Deidre Brock Excerpts

Monday 2nd November 2020 Commons Chamber

[The Prime Minister]

I am grateful to my right hon. Friend for that point. I am not sure that I want to put the Government’s chief economic adviser through the experience of the press briefings, but we are always aware of the economic consequences and the downsides of what, alas, we are forced to do at the moment. That is why it is vital that we work together and get the R down below 1 again; it is only just above 1, and I do believe that we can do it by 2 December. We can then open up the economy again in the way that I know both he and I would like to see.

[Deidre Brock (Edinburgh North and Leith) (SNP)]

Small businesses in my constituency of Edinburgh North and Leith, and right across the UK, are facing permanent closure. The rainy day funds are exhausted, the personal investments of owners and partners are about to be lost, and the millions of people that they employ are facing redundancy. Will the Prime Minister give a guarantee that this will be treated with the same urgency with which a UK Government treated a threat to the banks a few years ago, and will he commit to directing major cash resources to small enterprises and the self-employed to see them through this period? Any recovery will be built on their backs. What will his Government do to protect them?

[The Prime Minister]

The hon. Member is completely correct in what she says about the recovery; it will be on the backs of small and medium-sized businesses up and down the land. As she knows, that is why we have extended a massive package of support including £25,000 grants, bounce back loans and all the investments that have been made—a total package worth £200 billion. For those now forced to close by these restrictions, there are grants of £3,000. There are also grants of £2,100 for those that may not be legally forced to close, but which are adversely affected. As she knows, we have also put in place cuts to VAT and deferred business rates until next year.