Economic Outlook and Furlough Scheme Changes Debate
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Huw Merriman
Main Page: Huw Merriman (Conservative - Bexhill and Battle)Department Debates - View all Huw Merriman's debates with the HM Treasury
Economic Outlook and Furlough Scheme Changes
Huw Merriman Excerpts(4 years, 6 months ago)
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Jesse Norman
We do not know how much worse this will be than the 2007-08 crash, if indeed it is worse, and over what period of time we are talking about. We can be more precise about the causation, because the crash was caused by overleveraging in the banking sector and so the UK was hit harder by the crisis than other countries as a result. That was a result of Government inaction. We have touched on the position of people in the creative sectors and there is not much more I can add in the time available, but I am very supportive of the situation and we are trying to assist them.
Huw Merriman (Bexhill and Battle) (Con)
The Select Committee on Transport’s report on aviation has noted that British Airways is looking to make almost a third of its workforce redundant, while taking the job retention scheme for more than half of its employees and at the same time looking to invest £1 billion in a new airline. Will the Minister consider changing the job retention scheme so that companies cannot behave in this manner and rip off the taxpayer at the same time?
Jesse Norman
My hon. Friend will know that I cannot possibly comment on any specific circumstances, but I recognise the work he has done in putting this so squarely in the public mind.