Economic Update Debate

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Department: HM Treasury
Wednesday 8th July 2020

(4 years, 1 month ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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My hon. Friend is absolutely right. We cannot afford to lose this generation; they cannot be the generation that is defined and scarred by coronavirus. That is why, as he rightly identifies, we have put in place a suite of interventions, from traineeships to apprenticeships to the kick-start fund, all designed to help that generation to a better and a brighter future.

Jessica Morden Portrait Jessica Morden (Newport East) (Lab) [V]
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According to StepChange Debt Charity, 4.5 million people have lost income and accumulated £6 billion of debt in arrears on household bills during the pandemic. Will the Chancellor ensure that economic recovery plans also include a strategy to support people in unavoidable coronavirus-related financial difficulties?

Rishi Sunak Portrait Rishi Sunak
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I know my colleague the Financial Secretary has been abreast of this issue for a while, and he has just reminded me that we have invested £37 million in debt advisory services during this time. I also know that he is taking forward actions on our breathing space initiative, which is something that he passionately believes in, and I wholeheartedly support those efforts.