Protection of Jobs and Businesses

Part of the debate – in the House of Commons at 3:24 pm on 9th September 2020.

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Photo of Saqib Bhatti Saqib Bhatti Conservative, Meriden 3:24 pm, 9th September 2020

I thank the hon. Member for her intervention. If we look at the quantum of the package, it has helped to protect the economy at its most difficult time, and I will come on to that.

As a Conservative, I never thought that we would be in a position where we would pay up to 80% of anybody’s salary—80%—yet the Chancellor stepped up and did what needed to be done, not once but twice. Since then, 9.6 million people have been furloughed and £30.9 billion has been given to over 1.2 million businesses. It was rightly lauded as extraordinary, because extraordinary times need extraordinary measures.

But that was not the only measure. There was the coronavirus business interruption loan scheme, the bounce back loan scheme, the rates relief, the business grants, the self-employed income support scheme, the mortgage holidays, the protection from evictions, rental holidays, tax deferrals, VAT cuts for hospitality and larger grants for the hospitality sector. These are just the ones that I can get in in a few breaths, Madam Deputy Speaker.