Oral Answers to Questions

Kevin Hollinrake Excerpts

Tuesday 16th June 2020 Commons Chamber

[Alok Sharma]

We appreciate that announcements about redundancies for British Airways staff have been incredibly distressing for the employees and their families. At the end of the day, the use of the Government’s job retention schemes is preferable to making redundancies. That is why we made them available. What I would say in this case is that it is a commercial decision. We expect British Airways and, indeed, all employers to treat employees fairly and in the spirit of partnership.

[Kevin Hollinrake (Thirsk and Malton) (Con)]

I draw the House’s attention to my declaration in the Register of Members’ Financial Interests. It is right that the Government are requiring landlords to show forbearance to commercial tenants, but that is shifting some of the burden from the tenants to the landlords, many of whom are small and medium-sized enterprises, yet the banks are not providing a full payment holiday as they are for residential and buy-to-let. It is simply a capital repayment holiday, which is a small part of the payment. Will my right hon. Friend see what he can do about that?

[Alok Sharma]

My hon. Friend, as ever, raises an important issue. It is why both the CBILS and the bounce-back loans have a 12-month period during which interest is paid on behalf of the business. I would expect lenders to apply similar forbearance where needed in the case of existing commercial loans.