UK unveils $400 billion lifeline for firms hit by coronavirus

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UK unveils $400 billion lifeline for firms hit...
 © CyprusMail 2020
By Andy Bruce and Costas Pitas

Britain said it would offer 330 billion pounds ($399 billion) of loan guarantees, equal to 15% of its gross domestic product, and other measures to help struggling business as it ramped up its attempt to fight the economic hit from coronavirus.

“This is a time to be bold, a time for courage,” finance minister Rishi Sunak said, speaking alongside Prime Minister Boris Johnson.

Sunak said he was ready to increase the size of the loan guarantees to ensure cash gets to all companies needing it as their...


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This article was automatically added to our system 17-3-2020

UK unveils $400 billion lifeline for firms hit by coronavirus


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Article Tags: unveils, billion, lifeline, firms, coronavirus,