Covid-19: Economic Package

Part of the debate – in the House of Commons at 12:32 pm on 12th May 2020.

Alert me about debates like this

Photo of Mel Stride Mel Stride Chair, Treasury Committee, Chair, Treasury Committee 12:32 pm, 12th May 2020

I broadly welcome the statement the Chancellor has made relating to furlough and, in particular, the additional flexibilities that he has outlined, most notably about part-time working. However, as we come through this crisis, many businesses will be saddled with significant debts just at the time that we are looking to those businesses to invest and to grow the economy. Does he therefore agree that it is vital that the Government come forward as soon as possible with a clear plan as to how they are going to assist those companies with that indebtedness in terms of debt forbearance and equity finance so that they can fire up the economy and grow the jobs that the country will so desperately need?