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Britain draws budgetary artillery to counter the coronavirus epidemic

2020-03-11T20:43:25.393Z


For his baptism of fire, the young Minister of the Economy presents a vast recovery plan of 34 billion euros. On the menu: aid for SMEs and a health emergency fund.


It was to be a highlight of the kingdom's march towards its new "independence" and its "economic renewal", but health news has upset Boris Johnson's plans. The first “post-Brexit” budget was eagerly awaited, all the more after the resounding resignation of the one who had prepared it, the former Minister of the Economy Sajid Javid. For his baptism of fire, his successor Rishi Sunak, who embodies the young generation and is a rising star of the Conservatives, had to revise his copy to integrate the coronavirus and strengthen his battle plan.

Read also: Coronavirus and the fall of the financial markets: is Europe doomed to impotence?

The new Chancellor of the Exchequer therefore announced budget support of 30 billion pounds (34 billion euros) at the same time as the Bank of England lowered its key rate. According to Rishi Sunak, the coronavirus crisis will have an "important but temporary" impact and he intends "to protect the British, jobs and businesses". A proactive action plan is all the more necessary as the economy

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Source: lefigaro

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