Economic Update

Margaret Ferrier Excerpts

Wednesday 8th July 2020 Commons Chamber

[Rishi Sunak]

I wholeheartedly agree with my right hon. Friend. He is absolutely right: these interventions are specific to the moment that we face now. They provide support for young people at this moment of acute crisis. In the long term, only a dynamic market economy can provide sustainable, long-term employment for young people and beyond. In the medium term, once we get through this crisis, we must return our public finances to a sustainable place.

[Margaret Ferrier (Rutherglen and Hamilton West) (SNP) [V]]

The community access to cash scheme recently announced at Cambuslang in my constituency is going to become one of the pilot areas, bringing back much needed payment facilities to our community, which has lost several bank branches. The Chancellor has promised legislation to improve access to cash, which is needed urgently in the light of the economic downturn caused by the coronavirus. When will he bring forward that vital legislation to protect cash use, support small business and boost the recovery of our high streets?

[Rishi Sunak]

The hon. Member makes a good and fair point about the importance of cash, particularly in our rural communities. My hon. Friend the Economic Secretary is very much on top of this. He is conducting roundtables with the industry in the coming weeks, and we will bring forward legislation, as we have committed to do.