What does the owain hughes joke mean on gavin and Stacey?

It a play on the nameOWEN HUGHES

You'll hear "hes Owen hughes" - response "does he?" - response "NO, he doesn't"

What your hearing is;

Hes owing hughes (as in owing someone something in this case Hughes)

Does he ?(as in does he owe hughes anything)

No he doesn't

Silly, but one of those play on Word sounds - There is a comedian and broadcaster with BBC Wales whose stage name is...............Owen Money (Owing Money!).