Paul Maynard
Main Page: Paul Maynard (Conservative - Blackpool North and Cleveleys)Department Debates - View all Paul Maynard's debates with the HM Treasury
(3 years, 3 months ago)
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Steve Barclay
My hon. Friend is absolutely right. The package of measures that my right hon. Friend the Chancellor took improved on the economic scoring that was forecast for the pandemic, including the figure for unemployment, which will now be 2 million lower at its peak than was estimated. That package of measures has helped to prevent many of the worst outcomes that were forecast by the Office for Budget Responsibility as we went into the pandemic.
Paul Maynard (Blackpool North and Cleveleys) (Con)
One group whose living standards have been impacted during the pandemic has been low-income individuals who have used buy now, pay later credit products to buy online. I very much welcome the Government’s announcement in the spring of regulation of this sector. Will the Minister update me on the progress being made in regulating the sector given that it is become of increasing importance, as Citizens Advice reported just last week?
Steve Barclay
I understand that by the end of October there will be reassurance on that, and I am happy to take that up with my hon. Friend following this session.