Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the effect of the covid-19 outbreak on the (a) manufacturing sector, (b) finance sector, (c) hospitality sector, (d) retail sector and (e) long-term fiscal security of urban communities.

The COVID-19 pandemic has impacted every region and sector of the UK economy. That is why the Government provided businesses with an unprecedented support package of £352 billion, including grants, loans, business rates relief, VAT cuts and the Coronavirus Job Retention Scheme. In July, we published the first ever Hospitality strategy: reopening, recovery, resilience, along with the Build Back Better High Streets Strategy, in support of city and town centre businesses.

My Rt. Hon. Friend Mr Chancellor of the Exchequer set out further steps to help the economy recover in the Autumn Budget. These included extending the Recovery Loan Scheme until June 2022, providing over £1 billion to ensure businesses can continue to access loans and other finance, and a 50% business rates discount for companies in retail, hospitality, and leisure sectors for the year 2022-23.