Neil O'Brien
Main Page: Neil O'Brien (Conservative - Harborough)Department Debates - View all Neil O'Brien's debates with the HM Treasury
(3 years, 11 months ago)
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Rishi Sunak
Regardless of the industry in which companies operate, they are able to benefit from our furlough scheme. That is something that we were keen to do. It is not necessarily replicated by every scheme around the world, but we thought that that comprehensive approach was the appropriate one. Many of the companies that the hon. Lady mentioned will be able to benefit from that scheme. Beyond that, my right hon. Friend the Business Secretary engages regularly with all sectors regarding their particular concerns, and I will continue to liaise closely with him.
Neil O’Brien (Harborough) (Con) [V]
I strongly welcome the extension of the job retention scheme. It is the most generous in the world, and is saving a huge number of jobs here in Harborough, Oadby and Wigston. One of the great successes of policy in recent years has been a huge reduction in youth unemployment, but the virus is inevitably going to disrupt a lot of apprenticeships and work placements. Is my right hon. Friend thinking hard about how we can limit or stop any rise in youth unemployment?
Rishi Sunak
My hon. Friend is absolutely right. I know that he has put a lot of thought into this particular issue, and I look forward to hearing his ideas on it. As we emerge from this situation, we need to be cognisant of having the right support available for those who are most affected by this issue, especially those who are young and entering the labour force for the first time who will face this challenge, but also younger people who work in the disproportionately affected sectors of retail and hospitality; and that support might include skills, retraining and a dynamic labour market. This is about the economic impact on us all, and especially on those individuals; not having a close connection with the labour market at that early stage in their life is very damaging for their long-term prospects. I look forward to working with my hon. Friend to ensure that that does not happen.