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 Mel Stride Mel Stride Chair, Treasury Committee, Chair, Treasury Committee 1:03 pm, 8th July 2020

My right hon. Friend’s plan for jobs is characteristically thoughtful, creative and bold, and I firmly welcome it. He has rightly said that we look to businesses to grow the jobs of the future, yet we know that many hundreds of thousands of small and medium-sized enterprises will emerge from this crisis saddled with significant amounts of corporate debt, and we will look to them at that moment to be investing in jobs and growth, rather than being concerned about de-leveraging and shoring up their balance sheets. So may I ask my right hon. Friend whether he has given this particular issue specific thought, and if he has, what solutions he might have to bring to this House?