‘Whatever it takes’: chancellor announces £350bn aid for UK businesses
Sunak’s huge loan and grant package is intended to avert a severe recession
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The chancellor Rishi Sunak has announced a £350bn package of loans and grants to help Britain cope with the lockdown of large parts of the economy, as he warned the country was facing a threat to its prosperity unmatched in peacetime.
Less than a week after pledging £12bn in his budget to soften the impact of the Covid-19 pandemic, the chancellor admitted that the measures were insufficient to tackle the savage blow to growth and stressed he would do “whatever it takes” to see the UK through the crisis.
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