Key points from Chancell
or 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
