U.K. chancellor Sunak announces $39bn stimulus for coronavirus
INTERNATIONAL – U.K. finance minister Rishi Sunak pledged a £30 billion ($39 billion) stimulus package as he seeks to prepare the British economy to fight the potentially devastating impact of coronavirus.
After the Bank of England dramatically cut interest rates on Wednesday morning, the chancellor of the exchequer began the government’s coordinated response, as policy makers seek to tackle the greatest threat to the world economy for more than a decade.
In his Budget statement to Parliament, Sunak promised a huge fiscal stimulus totaling 30 billion pounds “to support British people, British jobs and British businesses through this moment.”
Source: iol.co.za