Covid-19: British Business Bank Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Stevenson of Balmacara
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Covid-19: British Business Bank
Lord Stevenson of Balmacara Excerpts(4 years ago)
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Lord Callanan
We are constantly reviewing the loan guarantee schemes to make sure that as many businesses as possible can benefit from them. That is why we made the changes that I referred to earlier in the week. As I said to an earlier questioner, although the UK has left the EU, under the terms of the withdrawal agreement we are still subject to EU state aid rules.
Lord Stevenson of Balmacara (Lab)
My Lords, does the Minister agree that once the current, very welcome, liquidity initiatives to soften the supply shock to the UK economy have done their work, it will be necessary, as in other economic downturns, to bring forward plans to stimulate demand and to deal with rising unemployment? Will the Minister confirm that such plans are being developed and can he share with us the likely timing?