Oral Answers to Questions

Lucy Powell Excerpts

Wednesday 22nd April 2020 Commons Chamber

[Dominic Raab]

I thank my hon. Friend for his question; I am pretty sure I got the gist, and he is right to refer to the support that banks need to be providing to customers. Thanks to the work of the Chancellor, the major banks and building societies have provided relief to those impacted by coronavirus, including deferring mortgage and other loan repayments, increasing overdraft limits and increasing credit card limits. By the first week of April, 1.2 million mortgage payment holidays had been granted. In this national effort, as we pay tribute to those across the country stepping up to the plate, we certainly expect the banks to do their bit.

[Lucy Powell (Manchester Central) (Lab/Co-op) [V]]

Like Sam’s Chop House, the Frog and Bucket, and hundreds more in Manchester, nearly three quarters of hospitality businesses do not qualify for grants—and for most, loans just are not an option. Given that the hospitality and retail sectors are the lifeblood of our high streets and are likely to face the longest Government-enforced closure, will the First Secretary extend cash grants and come up with a rescue package to stop thousands of pubs, restaurants, shops and venues disappearing altogether?

[Dominic Raab]

I certainly agree with the hon. Lady about the challenge that we have across all the sectors she mentioned in making sure that we see them through this incredibly difficult period. We want to make sure that the country, the economy, all those small businesses and all those sectors she mentioned can bounce back. The Chancellor has introduced a whole range of measures in relation to both finance—grants, where they are capable of being made—and other tax deferrals to assist small businesses in the sectors the hon. Lady described. Certainly, of course, if there are issues with any particular businesses, I will take them away, look at them very carefully, and make sure that the Chancellor can assess whether there is any more we can do. We have to make sure, from the high street to those other sectors that are adding huge value to the economy, that we are in a position, after the coronavirus ebbs and once we come through the initial crisis, to bounce back. We will do that by looking after all those small businesses and all those sectors that the hon. Lady rightly described.