Economic Update

Gavin Robinson Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

My hon. Friend is right to highlight the particular issues that his remote communities face. I believe the measures announced today, whether on business rates or direct cash grants, will make an enormous difference to local businesses in his constituency.

[Gavin Robinson (Belfast East) (DUP)]

I am grateful to the Chancellor for the effort he is putting into these measures. One question that has been raised is about the facility that is being made available for business interruption payments. Can the Chancellor outline what criteria will apply to that facility? Will there be complete access, should it be required, or will businesses have to fulfil criteria that will be assessed? If so, what will be the basis of that assessment—books this week, last week or before any interruption?

[Rishi Sunak]

The hon. Gentleman makes an excellent point. Our ambition is for the criteria to be as flexible and generous as possible. The basic point will be to ensure that a business was sensible and well-traded before coming into the crisis that it now faces. As long as that is the case, the loans should be able to be provided through the banks on the ground, with our guarantee standing behind that.