The Economy

Steve Double Excerpts

Monday 27th April 2020 Commons Chamber

[Rishi Sunak]

Rather than commenting on monetary policy, which it is obviously not my place to do, I can tell the hon. Gentleman that we are determined, as I have said, to preserve as much of the productive capacity of the UK economy as we can throughout this crisis. Such interventions will ensure that we can bounce back as strongly as possible and recover as much of our potential output as possible. Hopefully, that will put us in a strong position to carry on delivering on the agenda that we set out at the Budget: spreading opportunity to every part of the country and levelling up through investments in education, infrastructure and ideas.

[Steve Double (St Austell and Newquay) (Con) [V]]

As has already been highlighted, the tourism and hospitality sector will be hardest hit through this lockdown. As we are unlikely to come out of lockdown soon, the sector will need further support. Will the Chancellor reassure the sector that he will consider further support for tourism and hospitality? Will he reflect in particular on the seasonal nature of the sector? If we cannot reopen fully ahead of the peak summer season, many businesses will in effect lose a whole year’s worth of revenue.

[Rishi Sunak]

For as long as I have known my hon. Friend he has been an incredible advocate for the small tourism businesses in his constituency, which are a big driver of his local economy. I assure him that I will continue to keep a very close eye on the situation. As we think about exiting from the economic and social restrictions, I will look at the right interventions for every sector.