Bishop's Stortford MP Julie Marson quizzes Chancellor Rishi Sunak on business support

Bishop's Stortford's MP has challenged Chancellor Rishi Sunak on the Treasury's handling of business support schemes.

Julie Marson told the Indie: "After receiving many emails from Hertford and Stortford residents on whether struggling businesses should expect help from the Treasury with their debts, I felt that it was important to ask the Chancellor this question to gain clarity for my constituents.

"This pandemic has had a major impact on these businesses and it is my job to ask the Government for as much clarity as possible in these uncertain times."

She questioned Mr Sunak as part of her role on the Treasury Select Committee.

She asked him: "In principle, are you comfortable with the prospect of bailouts and equity investments? Picking winners, if you like."

Mr Sunak replied: "It's not something that I think governments should get into the business or habit of doing."

Mr Sunak later added that the state is always the "lender of last resort" and that he was "not entirely sure it would be sensible for the Government to have individual equity stakes in millions of very small businesses".

The Chancellor's comments are in contrast to those made by Andrew Bailey, Governor of the Bank of England, who said that the high level of corporate debt might undermine any economic recovery.