Reuters reports that british finance minister Rishi Sunak will update parliament on Monday afternoon about the economic outlook and measures taken by the government to offset the hit from the coronavirus pandemic.

A spokesman for Britain's finance ministry said Sunak would address lawmakers on "the economic situation and support being provided to the economy, businesses and families".

Sunak has said he is on course to spending 280 billion pounds in the current financial year, taking borrowing to about 20% of gross domestic product.

Last week Sunak said he would give businesses an extra 4.6 billion pounds ($6.2 billion) in support to help them through a new coronavirus lockdown which economists expect will send Britain back into recession.