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Economic Update

Part of the debate – in the House of Commons at 7:17 pm on 17th March 2020.

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Photo of Rishi Sunak Rishi Sunak The Chancellor of the Exchequer 7:17 pm, 17th March 2020

I thank the right hon. Gentleman for his constructive attitude, and I look forward to working with him. The loan terms will be interest-free for six months. Because of the liquidity that has been provided by the Bank of England, they will be incredibly cheap, and they will be available on a rolling basis for commercial paper, so they will be loans that are accessible and very valuable to businesses. They will be ready from next week.