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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 Tim Loughton Tim Loughton Conservative, East Worthing and Shoreham 7:17 pm, 17th March 2020

These measures are indeed bold, and will provide practical support. I particularly look forward to further information about renters and measures for the childcare and nursery sector, which was generally omitted from the Budget last week and is in a fragile state. The hospitality industry, which the Chancellor rightly singled out—it is our third largest industry—is laying off people, and the number of customers has absolutely collapsed. I am told that they are approaching banks and being told, “We may be able to get something for you in April.” Can he instil a sense of urgency in the banks and make sure that the grants from central Government are immediate so that people do not have to wait for them, which could make the difference to their being there in a few weeks’ time or not?