Economy Update

Theresa Villiers Excerpts

Thursday 5th November 2020 Commons Chamber

[Rishi Sunak]

I say to the right hon. Lady, as I have said before, that all the interventions we have made apply on a UK-wide basis; they treat people the same, equally and fairly, wherever they happen to live. That was the case, is the case and always will be the case, and I can give her that assurance.

[Theresa Villiers (Chipping Barnet) (Con)]

Like others, I am hugely grateful for this massive programme of support for jobs and livelihoods, which is helping so many people, including in my constituency, but it will all have to be paid for in the end, so will the Chancellor set out a plan to deal with the deficit and return the public finances to a sustainable footing for future generations?

[Rishi Sunak]

My right hon. Friend is right, and there will be a time when it is appropriate to do exactly as she suggests. Given the uncertainty at the moment, particularly with the economic forecasts, it is difficult to do that with precision and I think it would be inappropriate. However, in a few weeks’ time we will have an updated set of forecasts from the Office for Budget Responsibility. They will illustrate the future direction of the deficit and the public finances, which will give us a sense of the task ahead of us and allow us to have a conversation about how, over time, to return the public finances to the sustainable position to which she rightly says they should be returned.