Rishi Sunak unveils massive package to stop UK going bust amid coronavirus

Chancellor Rishi Sunak is facing demands to pump hundreds of billions of pounds into propping up UK businesses today amid fears the coronavirus lockdown could last a year.

Boris Johnson dramatically ramped up the government’s response to the crisis last night, urging Britons to avoid all ‘non-essential’ social contact, shunning pubs, cafes, restaurants, cinemas and clubs. 

But the radical effort to stop the spread of the disease sparked panic among businesses, who warned they faced going bust, while the self-employed and those in the ‘gig’ economy could also struggle to work.  

Venue owners have slammed the PM for not ordering them to close, saying that means they cannot claim on insurance.

Phones mogul John Caudwell this morning warned that the chaos will cost the economy ‘hundreds of billions of pounds, maybe trillions’.

He urged Mr Sunak, who is due to unveil an aid package alongside the PM later, must offer a bailout in the hundreds of billions – branding the £12billion announced in the Budget last week a joke.   

‘£12billion is zero… Without help millions of people will be out of work,’ he told BBC Radio 4’s Today programme. 

Chancellor Rishi Sunak has been working on bailout plans for businesses hit by the coronavirus outbreak. Cases of the coronavirus across the UK have now risen to more than 1,500

Prime Minister Boris Johnson last night advised Britons to avoid pubs and clubs in a bid to control the spread of the virus. But venue owners have slammed the PM for not telling them to close

Prime Minister Boris Johnson last night advised Britons to avoid pubs and clubs in a bid to control the spread of the virus. But venue owners have slammed the PM for not telling them to close

Billionaire phones mogul John Caudwell said the government must pump hundreds of billions of pounds into a bailout package

Billionaire phones mogul John Caudwell said the government must pump hundreds of billions of pounds into a bailout package

French President Emmanuel Macron last night declared ‘war’ on the coronavirus impact, announcing a £300billion fund and guaranteeing that no business in the country will go under as a result of the crisis. 

In the US, some politicians have been advocating so-called ‘helicopter money’ – cash handouts to the public to help keep the economy moving.  

Mr Sunak is expected to lay out ‘more help’ for sectors including pubs, theatres, clubs and cinemas as they cope with the outbreak.

Airlines have been pleading for a multi-billion pound bailout as international travel effectively grinds to a halt. 

At an historic press conference in Downing Street last night, the PM warned that the coronavirus was now in a phase of rapid spread across the UK, with London seeing a particular surge.  

He said everyone should avoid contact that is not absolutely necessary – with restaurants, bars and cinemas and travel off limits, and an end to large gatherings. Admitting that the squeeze could last 12 weeks or even longer, Mr Johnson acknowledged he was ‘asking a lot’. 

Entire households should self-isolate for two weeks if one person has been showing symptoms, and older people should prepare to stay away from risks for months to come. He said that meant ‘you should not go out, even to buy food or essentials’.

But unlike New York – where all bars and restaurants were compelled to close by 8pm local time last night – Mr Johnson said he would rely on businesses and Britons to follow guidance. 

Mr Johnson was flanked by Chief medical officer Chris Whitty (left) and chief scientific adviser Patrick Vallance (right) at the press conference in Downing Street tonight

Mr Johnson also said he was not yet ordering schools to be closed, saying he still believed it could make matters worse. 

As the UK coronavirus death toll spiked to 55, the PM said: ‘If necessary, you should ask for help from others for your daily necessities. If that is not possible, you should do what you can to limit your social contact when you leave the house to get supplies.’

‘Now is the time for everyone to stop non-essential contact with others and stop all non-essential travel. We need people to start working from home where they possible can. You should avoid pubs, clubs, theatres and other such social venues.’

In a special plea to the capital, Mr Johnson said people there were at the highest risk. ‘It looks as though London is now a few weeks ahead… it’s important that Londoners now pay special attention to what we are saying about avoiding all non-essential contact.’ 

The move came after ministers were warned the death toll from the virus could hit 260,000 unless dramatic measures were taken immediately.

Cases of the coronavirus across the UK have now risen to 1,543, with 55 deaths; but there is likely to be many more as tests are being carried out on patients in hospital. 

In France, shops, restaurants and all ‘non-indispensable’ businesses have been forced to shut.

French President Emmanuel Macron vowed last night in a television address that ‘no business will go bust’ because of social distancing rules in the country.

He told the French people they would have to stay home unless they were shopping for food or going to a pharmacy, going to absolutely essential work, or exercising alone.  

In Germany, they announced bars, clubs, and museums will be closed to slow the spread.

In France, shops, restaurants and all ‘non-indispensable’ businesses have been forced to shut. President Macron told the French people they would have to stay home unless they were shopping for food or going to a pharmacy, going to absolutely essential work, or exercising

 

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