Meeting of the Parliament (Hybrid) 20 May 2020
I would like to think that what is happening in these extraordinary times is going to be the catalyst for a great deal of change. All economic activity that is still happening is now clearly dependent on state intervention and public money. I think it always was. Private sector economic activity always was dependent on the things that we pay for and provide for collectively in society: infrastructure, education, healthcare and the rule of law. Those things are provided collectively, and the private sector depends on them. It is unconscionable to say that businesses should receive a public sector bailout if they have been arranging their affairs so as to minimise their contribution to those public goods.
This is a time when Governments around the world need to be retaking what they should never have given away: the authority to direct the shape of the economy in a way that meets the public interest. This is one small step in that direction, and we will continue to build on it.