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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 Greg Clark Greg Clark Chair, Science and Technology Committee (Commons), Chair, Science and Technology Committee (Commons) 7:17 pm, 17th March 2020

It was not possible for ordinary businesses and working people to anticipate the scale of the most severe public health crisis for 100 years, so does the Chancellor accept that for many businesses the nation has to act, not so much as a lender of last resort, but as a collective insurer of last resort, meeting their unmet operating costs if they are to keep people employed and inoculate against economic contagion?