- UK's finance minister: Total coronavirus measures will cost GBP7 billion
Market news
11 March 2020
UK's finance minister: Total coronavirus measures will cost GBP7 billion
- Will make statutory sick pay available to all advised to self-isolate
- Will provide separate GBP500-million hardship fund to local authorities
- For businesses with under 250 staff, will refund cost of up to 14 days of staff sick pay due to coronavirus
- Will provide temporary loans to businesses
- Government will guarantee 80% of bank loans of up to 1.2 million to small businesses
- Will scrap business rates property tax altogether for some smaller firms
- Self-employed people will get sick benefits from day one
- Business rates abolished for small businesses 'entirely' for a year
- Total fiscal stimulus of GBP30 billion
- There will be further GBP18 billion of fiscal loosening this year
- Total coronavirus measures will cost GBP7 billion
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