Rishi Sunak has unveiled his first Budget. The Chancellor has promised a £30bn war chest for tackling coronavirus. There is also £6bn of new funding for the NHS, a new £2.5bn pothole fund and £5.2bn for flooding defences. Here are the main headline announcements:
- A promise to increase public spending by 2.8 per cent – the OBR says this will be the largest sustained fiscal boost for 30 years
- The Chancellor has announced £30bn of spending to tackle the coronavirus
- The government will cover statutory sick pay for small firms
- Business rates will be abolished for certain businesses during the outbreak
- The NHS will receive an additional £6bn of funding
- £800m will be used to form a UK ‘blue-sky funding agency
And here is how it all unfolded on our live blog:
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