Just a moment. I will come back to the hon. Gentleman.
The Financial Times reported:
“The German budget currently guarantees KfW”—
that is the credit institute for reconstruction—
“a financial framework of €460bn, but officials said this could now be raised by €93bn, giving the bank more than €550bn in available firepower.”
Mr Altmaier said:
“And that is just the start”.
I am glad that the Chancellor has followed the line—the model—that the Germans are taking as well.
In the meantime, notwithstanding the Government’s apparent announcement, significant parts of the economy are in freefall, as well as, more immediately, places, organisations, agencies within the hospitality sector both
large and small, the travel industry and retail. So, okay, a bit late, but, nevertheless, moving in the right direction. But what this does not indicate yet, as far as we are concerned, is what support will be given to employees—the people working in those industries. The industries themselves might get support, but we have to be clear about what actually is happening. People in here will have constituents losing their jobs.