Economic Update

Part of the debate – in the House of Commons at 1:03 pm on 8th July 2020.

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Photo of Drew Hendry Drew Hendry Shadow SNP Spokesperson (Business, Energy and Industrial Strategy) 1:03 pm, 8th July 2020

The Chancellor said at the beginning of his statement that

“no one will be left without hope”,

so what does he say to the hundreds of thousands of businesses and sole traders excluded from support during this pandemic crisis? Many of them are in seasonal businesses facing, in effect, three winters of trading. They cannot afford extra debt, so is now not the time to convert some of the money put aside for loans into grants to support the sector?