Economy Update

Part of the debate – in the House of Commons at 12:28 pm on 5th November 2020.

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Photo of Greg Smith Greg Smith Conservative, Buckingham 12:28 pm, 5th November 2020

I warmly welcome my right hon. Friend’s statement on measures that will both protect jobs and livelihoods through this lockdown and give businesses, as they plan for 2021 and beyond, real hope and confidence that there are better days ahead. With that in mind, does he agree with me and the Bank of England, with its forecasts this morning showing that economic activity in the UK is being supported by our substantial fiscal and monetary policy action, and its assessment that the extended coronavirus job retention scheme will mitigate significantly the impact of weaker economic activity in the labour market?