Britain's new finance minister Rishi Sunak will pledge billions of pounds t...
LONDON - Britain’s new finance minister Rishi Sunak will pledge billions of pounds to fight the impact of coronavirus on Wednesday, and the Bank of England might add its firepower to the attempt to stave off the risk of a new recession.
The tax-and-spending plan - which Sunak will announce in parliament at around 1230 GMT - has been billed as a chance for Johnson to direct investment toward poorer regions, where voters helped him to a big election victory in December. “I can say absolutely, categorically the NHS will get whatever resources it needs to get us through this and to respond to the health crisis,” Sunak told BBC television on Sunday, referring to Britain’s National Health Service.
Britain is likely to issue the highest amount of public debt in almost a decade over the coming financial year, according to a Reuters poll of dealers.The Bank of England has so far not followed the example of the U.S. Federal Reserve which rushed out an emergency cut to interest rates as global stock markets began to tank last week.
“Providing stimulus will not get people out to restaurants and the cinema if they are staying at home to avoid infection,” Martins said. Sunak told the Sunday Telegraph that he was studying “with interest” proposals to reclassify some day-to-day spending as public investment, which faces a less restrictive rule.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK minister Dorries diagnosed with coronavirus, met with PM Johnson: the TimesNadine Dorries, a junior health minister in the UK, has been diagnosed with coro...
Read more »
UK Health Minister who interacted with Boris Johnson has coronavirus - Business InsiderUK Health Minister Nadine Dorries, who has been helping draft legislation to limit the spread of the new coronavirus was diagnosed with COVID-19.
Read more »
Coronavirus: UK live updates, 3 deaths and 273 cases reported in Britain - Business InsiderThe UK has confirmed three coronavirus-related deaths and 273 total cases. Experts say a British epidemic is highly likely.
Read more »
Coronavirus: UK live updates, 3 deaths and 273 cases reported in Britain - Business InsiderThe UK has confirmed three coronavirus-related deaths and 273 total cases. Experts say a British epidemic is highly likely.
Read more »
Coronavirus: UK live updates, 5 deaths and 319 cases reported in Britain - Business InsiderThe UK has confirmed five coronavirus-related deaths and 319 total cases. Experts say a British epidemic is highly likely.
Read more »
Coronavirus live updates: UK minister tests positive, Turkey confirms first caseA health minister and Conservative member of parliament, Nadine Dorries, said she tested positive for the coronavirus.
Read more »