Britain pledges £30b package to combat coronavirus
[LONDON] Britain unveiled Wednesday a package of stimulus measures worth £30 billion (S$53.8 billion) to fight the growing threat from the coronavirus epidemic to the economy.
"I am announcing today in total a £30-billion fiscal stimulus to support British people, British jobs and British businesses through this moment. And of course if further action is needed if the situation evolves... I will not hesitate to act," finance minister Rishi Sunak said in the country's first post-Brexit budget.
He told parliament it was a "comprehensive" response to the virus fallout.
Mr Sunak said the economy faced a "significant impact" from the spread of the virus, even if the hit would be temporary.
"Our economy is robust, our public finances are sound, our public services are well-prepared," he said as he began an annual budget speech to parliament on Wednesday.
"I will do whatever it takes to support the economy."
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
AFP, REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
‘We aren’t going anywhere’: TikTok CEO expects to defeat US restrictions
TikTok artists and advertisers to stay with app until ‘door slams shut’