The Economy

Part of the debate – in the House of Commons at 6:52 pm on 8th July 2020.

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Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury 6:52 pm, 8th July 2020

I am afraid that I will not give way because of the amount of time I have left.

I wanted to respond to the point raised by Wendy Chamberlain—who is not in her place—on the Treasury’s responsiveness to her constituents’ correspondence. We have had a volume increase of eight times over this crisis, but we will be working very carefully to improve our responsiveness.

Over the past few months, our economy has endured unprecedented levels of disruption and uncertainty. People and businesses have experienced considerable hardship and worry, and many will continue to do so for some time yet. However, over the past few months we have seen the best of our economy. We have seen banks and building societies providing support with mortgage holidays. Chris Stephens mentioned the important role of credit unions; we will be working closely with them as we move to the next stage. Businesses large and small turned over their production lines to the manufacture of ventilators, PPE and antibacterial sanitiser, and supermarkets, chemists, couriers and utility companies have also assisted; but we now need to move forward. As the Chancellor has unveiled a plan to protect, create and support jobs, everyone in this country has the opportunity for a fresh start. The task is not yet done. It will take time, and there will be more to come from the Government in the Budget and spending review in the autumn.

Motion lapsed (Standing Order No. 9(3)).