Emma Lewell-Buck
Main Page: Emma Lewell-Buck (Labour - South Shields)Department Debates - View all Emma Lewell-Buck's debates with the HM Treasury
(2 years, 10 months ago)
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Helen Whately
My hon. Friend has made an extremely good point. Now is the moment for us to go full steam ahead with our transition away from fossil fuels. We are investing in nuclear, we are accelerating our progress on renewables, and we are boosting energy efficiency in homes across the country. This is how we will bring bills down, improve our energy security and tackle climate change.
Mrs Emma Lewell-Buck (South Shields) (Lab)
When the Government set up the coronavirus business interruption loan scheme, they recklessly failed to agree any guidance on early repayments. As a result, businesses are now being charged extortionate fees and are facing bankruptcy. Why is the Chancellor putting the profits of unscrupulous lenders above the recovery of our small businesses?
The Economic Secretary to the Treasury (John Glen)
He is not doing that. The schemes were set up in various ways, depending on the size of businesses, and it will be for the individuals who borrowed money to engage with the lenders to refinance those loans on a case-by-case basis.