Protection of Jobs and Businesses

Saqib Bhatti Excerpts

Wednesday 9th September 2020 Commons Chamber

[Saqib Bhatti (Meriden) (Con)]

I refer Members to my entry in the Register of Members’ Financial Interests. It is absolutely right that we should be protecting jobs and businesses, and that is exactly what the Chancellor has been doing repeatedly throughout this crisis. As Conservatives, we are the responsible party of government and the natural stewards of the economy, and we have always been the party that has made the right decisions through difficult times. It was the Chancellor who stepped up and provide a lifeline to so many—so many individuals, businesses, their employees and the most vulnerable in society.

Of course, ending furlough is not easy, but it cannot go on. While the Labour party, through this motion, postures and virtue signals, the people who elect us understand that these interventions cannot continue. They understand that the bills must be paid. They understand that our economy must be allowed to find its feet again and that life must return to normal.

[Virginia Crosbie (Ynys Môn) (Con)]

Does my hon. Friend agree that as the Chancellor approaches the autumn statement, he is looking toward a future of sound, sustainable finance?

[Saqib Bhatti]

I absolutely agree and I am proud of the Government for putting ideology aside, but there is a reason that we are the only party that the British public entrusted with our economy. Therein lies the difference, because while we talk about sustainable public finances, Labour would like to see the people of this country reliant on the state forever with no end date, trying to sneak in socialism through the back door. Meanwhile, this Government are trying to work really hard to protect, support and create new jobs. If the Labour party wants to support businesses and protect jobs, they should support this Government and this Chancellor. This is the Chancellor who introduced the job retention bonus scheme so employers could bring back people from furlough. He introduced the £2 billion kickstarter scheme to get young people into six months of paid employment, with £2,000 for employers for each new apprentice under 25 and £1,500 for those over 25. He doubled the number of work coaches and invested £150 million in the flexible support fund to remove barriers to work.

Our furlough scheme was unprecedented. It went further than any country in the world and it was the right thing to do.

[Patricia Gibson]

We have heard much today on the Opposition side of the House about how generous the Chancellor has been with his support, but does the hon. Member not understand that when tens of thousands of jobs are being lost—jobs that would otherwise be viable with a bit of additional support—all this generosity is cold comfort when someone loses their job and potentially their home?

[Saqib Bhatti]

I thank the hon. Member for her intervention. If we look at the quantum of the package, it has helped to protect the economy at its most difficult time, and I will come on to that.

As a Conservative, I never thought that we would be in a position where we would pay up to 80% of anybody’s salary—80%—yet the Chancellor stepped up and did what needed to be done, not once but twice. Since then, 9.6 million people have been furloughed and £30.9 billion has been given to over 1.2 million businesses. It was rightly lauded as extraordinary, because extraordinary times need extraordinary measures.

But that was not the only measure. There was the coronavirus business interruption loan scheme, the bounce back loan scheme, the rates relief, the business grants, the self-employed income support scheme, the mortgage holidays, the protection from evictions, rental holidays, tax deferrals, VAT cuts for hospitality and larger grants for the hospitality sector. These are just the ones that I can get in in a few breaths, Madam Deputy Speaker.

[Rob Roberts]

Will my hon. Friend give way?

[Saqib Bhatti]

Absolutely.

[Rob Roberts]

I thought I would give him a moment to catch his breath after listing all the interventions that we have provided. Does he agree that the Opposition are a bit rich to lecture us on not providing enough support, given all the things that he has just listed?

[Saqib Bhatti]

I could not agree with my hon. Friend more. I remember that the hon. Member for Ogmore (Chris Elmore) said that we would hear about it at the ballot box, but we have heard the British public’s verdict on the Labour party’s economic policy. We heard it in 2010, 2015 and 2017, and we heard it decisively in 2019. I will never forget the feeling of disbelief and deep disappointment that I had when I first read the note that the right hon. Member for Birmingham, Hodge Hill (Liam Byrne) left in the Treasury when Labour were last in Government, saying that there was no more money left. Thank God we are a far cry away from the recklessness that we saw under the last Labour Government, and that is why I will be opposing the motion.