Covid-19: Economy Update Debate

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Department: HM Treasury

Covid-19: Economy Update

Martyn Day Excerpts
Thursday 22nd October 2020

(3 years, 6 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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I know that my hon. Friend is a proud champion of all her local pubs, judging by all her Instagram photos—I am very jealous. Having visited many of them with her during the campaign, I am glad that she is providing them with the support that they need at this difficult time. I know that these grants will make a difference. I can reassure her that we will work very quickly to get the guidance out. The funding will be available on a monthly basis; a month after the restrictions start, the funding will be there for those businesses.

Martyn Day Portrait Martyn Day (Linlithgow and East Falkirk) (SNP) [V]
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The Chancellor has announced the latest package of covid measures, and we clearly face a further protracted period of the crisis, with more and more areas going into local restrictions. Given the regional packages announced for England, will the Chancellor tell us exactly what the Barnett consequentials will be, as devolved nations need to plan properly for their own mitigation measures?

Rishi Sunak Portrait Rishi Sunak
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I refer the hon. Gentleman to my answer to the hon. Member for Rhondda (Chris Bryant). We have taken the approach of providing up-front funding guarantees to devolved nations, worth £14 billion currently, and we will update and review those regularly. In all ways, dealing with these demand-led schemes is difficult, which is why we have taken this approach, which is generous and better at providing up-front funding to devolved nations.