Economic Update

Stephen Crabb Excerpts

Monday 11th January 2021 Commons Chamber

[Rishi Sunak]

We have provided significant support to our cultural industries. I think it is right that we highlight the contribution they make both to our society and to our economy. I struggle to find any other countries that have matched the £1.5 billion of support we have provided, which has now gone out, I believe, to over 3,000 different cultural institutions, supporting the livelihoods and local institutions that cover performing arts, such as musicians, and we know that they will play an important part in our recovery.

[Stephen Crabb (Preseli Pembrokeshire) (Con)]

There are businesses in my constituency in Pembrokeshire that only made it through to the end of 2020 because of the outstanding support and intervention by this UK Government, and the funding support that the Treasury has provided for the devolved Administrations has been a key part of that. However, does my right hon. Friend share my concern that, at the same time as businesses in my constituency tell me they feel shut out of the Welsh Government’s business support grant scheme, it appears that the Welsh Government are sitting on about £1 billion of unallocated funding support? Does he agree that this is not a moment for holding back support and that we need to be getting it to the frontline, especially for small businesses?

[Rishi Sunak]

I thank my right hon. Friend for the question, and he is absolutely right. We must try to get our cash support out to businesses as quickly as possible; they are suffering as we speak. The Welsh Government have been provided with over £5 billion in an up-front funding guarantee, and he is right to highlight the importance of that money getting out to support the local businesses that he knows are so important to driving the future prosperity of the Welsh economy.