Spring Budget 2020: Chancellor pledges total package worth £30bn to tackle coronavirus

March 11, 2020

Key points from Chancellor Rishi Sunak’s first Budget . . 

  • Chancellor started speaking at 12:35pm
  • He says public services are well prepared to tackle coronavirus
  • There is likely to be a "significant" impact on the UK economy but it will return to normal
  • There will be a funding "bridge" for business to help them cope
  • Government's response will be 'temporary, timely and targeted'
  • NHS will receive "whatever extra resources" it needs
  • For businesses with fewer than 250 employees 14 days sick pay will be refunded by the Government in full.
  • Launch of new coronavirus fund for SMEs
  • Business rates scrapped for many retailers, bars and restaurants. Nearly half of all business premises will not pay business rates, says Chancellor
  • £3,000 cash grant available to 700,000 of UK's smallest businesses
  • Total package to deal with coronavirus is worth £30bn

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