Economic Update

Mark Eastwood Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

We have provided half a billion pounds specifically to local authorities to provide extra support, particularly to help people with housing costs, notably council tax. That will make an enormous difference to people on the ground.

[Mark Eastwood (Dewsbury) (Con)]

Many mortgage payers in my constituency will welcome the three-month holiday announced today. However, can the Chancellor confirm whether this will be implemented automatically by the banks and mortgage lenders, or will borrowers need to apply?

[Rishi Sunak]

Borrowers can speak to their mortgage provider and, owing to the work of my right hon. Friend today, they should receive a three-month mortgage holiday, depending on their circumstance as explained, but it should be reasonably automatic thereafter.