Oral Answers to Questions

Steve McCabe Excerpts

Tuesday 16th June 2020 Commons Chamber

[Alok Sharma]

My hon. Friend, as ever, raises an important issue. It is why both the CBILS and the bounce-back loans have a 12-month period during which interest is paid on behalf of the business. I would expect lenders to apply similar forbearance where needed in the case of existing commercial loans.

[Steve McCabe (Birmingham, Selly Oak) (Lab)]

My thoughts are also with Jo’s family. Let me acknowledge the basic decency of the furlough scheme. However, with vacancies plunging and the spectre of unemployment rising—youth unemployment in Birmingham is now at 18%—is it time for a jobs and training package, so that we avoid a return to 1980s unemployment levels for young people, when many from black and minority ethnic backgrounds simply felt written off?

[Alok Sharma]

The hon. Gentleman raises an important point. As we look to see how we can restart the economy and the whole process of recovery, we will, of course, look at skills as well.