Oral Answers to Questions
Debate between John Glen and Ben Lake(4 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Economic Secretary to the Treasury (John Glen)
The Government have been carefully considering the potential issuance of a UK sovereign green bond. At present, we have no plans to do that, but we continue to monitor the case for one, and we will keep it under urgent review.
Ben Lake
I am glad that the Government will keep this matter under consideration because, as evidenced recently by Quebec, green bonds can be effective in raising capital investment and investment for operational expenditure to further the green transition. Will the Government also consider enabling the Welsh Government to issue such a bond to help the effort for a greener economy?
John Glen
Clearly, debt and the handling of it is a significant challenge for the Government at this time. The core gilt programme is the most stable and cost-effective way of dealing with our financing needs. The hon. Gentleman makes a reasonable point. We will continue to look constructively at all options and at the changing environment as a consequence of this crisis.
Coronavirus: Employment Support
Debate between John Glen and Ben Lake(4 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
John Glen
I acknowledge the point on the minimum income guarantee, which I have responded to previously. On co-ordination with the Bank of England, we have worked with the Financial Conduct Authority to introduce better forbearance measures for the banks so that they can act effectively and use their flexibilities. Obviously the bridging facility that the Bank of England has brought forward for bigger businesses is also important.
Ben Lake (Ceredigion) (PC)
Will the Minister assure us that the package of measures that the Government intend to bring forward will offer support to the self-employed, sole traders and freelancers who may not themselves be ill but who may have already lost work due to the economic disruption of covid-19?