3/3, 1:56 PM (Source: TeleTrader)
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Sunak confirms new restart grants for businesses

British Chancellor of the Exchequer Rishi Sunak announced on Wednesday new restart grants of up to £6,000 for retailers in the UK and up to £18,000 for hospitality businesses as he laid out the government's new budget.

The government has provided relief of £352 billion so far, according to the finance minister, who described the scheme as "one of the largest, most comprehensive and sustained responses this country has ever seen."

However, Sunak told MPs that it would take decades to pay back the money borrowed to fight the coronavirus crisis. "The amount we've borrowed is only comparable with the amount we borrowed during the two world wars. It is going to be the work of many governments, over many decades, to pay it back," he explained.

Breaking the News / JC