Corporate Insolvency and Governance Bill

(Ping Pong: House of Commons)
Sir Edward Leigh Excerpts
Thursday 25th June 2020

(3 months ago)

Commons Chamber
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Department for Business, Energy and Industrial Strategy
Paul Scully Portrait Paul Scully - Hansard

I agree with the hon. Gentleman that it is important that we remain flexible. We continue to work with businesses from all sectors to ensure that we can get to a point where we can work through the gears to get a full economic recovery over time. That will mean support from the Government in all manner of ways, which we are considering.

Sir Edward Leigh Portrait Sir Edward Leigh (Gainsborough) (Con) - Hansard
25 Jun 2020, 12:08 a.m.

We have no idea what will happen—there could be a second lockdown or other things; we do not know. Will the Minister comment on the necessity or value of including in the Bill a review procedure, which, if something changes, would allow the Government to be fleet of foot in aiding businesses? That particularly applies to those who lose their premises because of the difficult economic situation and who may find it very difficult to find new ones.

Paul Scully Portrait Paul Scully - Hansard

I am grateful to my right hon. Friend for that intervention. He will note that the Government have extended the moratorium on the forfeiture of leases due to covid-19 debts to 30 September, with which the amendments in the Bill have become aligned. In my conversations with retail and hospitality in particular, but not solely with them, I have been exercised by property and the balance between landlord and tenant. We must keep an eye on that.