Oral Answers to Questions Debate

Full Debate: Read Full Debate
Department: HM Treasury

Oral Answers to Questions

Robert Neill Excerpts
Tuesday 22nd June 2021

(2 years, 9 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
John Glen Portrait John Glen
- Parliament Live - Hansard - - - Excerpts

The hon. Gentleman makes a very sensible and worthwhile point on this matter. We are looking closely at the Financial Conduct Authority’s “Financial Lives” survey, which indicates the degree of liquidity that exists. I work closely with the lenders on affordability assessments for the self-employed. I am happy to commit to continue to keep this matter under review and to receive further representations from him.

Robert Neill Portrait Sir Robert Neill (Bromley and Chislehurst) (Con)
- Hansard - -

What assessment he has made of the adequacy of the support provided to the culture and arts sector during the covid-19 outbreak.

Steve Barclay Portrait The Chief Secretary to the Treasury (Steve Barclay)
- Parliament Live - Hansard - - - Excerpts

In March 2021, the Chancellor announced a further £300 million to build on the existing £1.57 billion of culture recovery fund support to protect our cultural sector. To date, more than £1.2 billion in grants has been paid.

Robert Neill Portrait Sir Robert Neill
- Parliament Live - Hansard - -

The Minister is right, of course, to point out the unprecedented sums that have been given to the arts sector, and that is very welcome, but does he recognise that, particularly for the performing arts, the further four-week delay is crippling their future plans? As all the leading producers both in the west end and throughout the country point out, it takes months to get a show going, and uncertainty cripples that planning. Will he at least consider the calls from throughout the industry for a Government-backed insurance scheme to deal with cancellations if there is further uncertainty? There is a precedent in film and TV production that could readily be adapted. This is about getting them back working, which is actually want they want, rather than simply being subject to grants all the time. They want to get back on stage.

Steve Barclay Portrait Steve Barclay
- Parliament Live - Hansard - - - Excerpts

My hon. Friend is right to draw attention to the success of the film insurance scheme, which has protected over 45,000 jobs and £1.6 billion of spend. On the specific issue he raises, that is exactly why my right hon Friend the Chancellor announced the additional £300 million of support at the Budget. He anticipated the fact, in going long with that support, that there would be the risk of further delays to the covid row-back, so that was part of the announcement of an additional £300 million that he set out at the Budget.