Covid-19 is so dangerous that without drastic action it will “overwhelm the NHS”, Prime Minister Boris Johnson said as he warned that more “extreme measures” may be needed to protect lives in the future in his daily press conference
He added that the Government may have to go “further and faster” in the coming days. He says we must act like any “wartime government and do what it takes to support the economy.”
“This enemy can be deadly but it is beatable…we will beat it.”
The Chancellor promised to stand behind business small and large and pledged £330b in government backed loans to help business through the crisis. That, said the Chancellor, equates to fifteen per cent of GDP
He hinted at a specific package to help airlines and airports and for any other businesses with specific issues
He clarified that businesses with a pandemic insurance could claim following the government
Every single business in the hospitality or retail sector will not pay business rates for the next twelve months
For the public he announced a three month mortgage holiday for people struggling to pay their mortgage due to the pandemic
John McDonnell MP, Shadow Chancellor, responding to Chancellor Rishi Sunak’s coronavirus update, said:
“People are being laid off today and losing their incomes. We are disappointed that this package does not address their concerns.
“The further announcements laid out by the Chancellor lack the certainty required amidst growing public anxiety and still do not go far enough in protecting workers, renters and those who are losing their jobs, or in fully supporting businesses at the scale necessary.
“In particular, the Chancellor’s claim that new forms of employment support will be developed does not appreciate the urgency and gravity of the situation. Workers and businesses need to know now that they will be supported, not in a few days’ time.
