Chancellor announces £330bn in government-backed loans in coronavirus fight

'We will get through this'

Chancellor Rishi Sunak has unveiled a raft of financial measures to shore up businesses and families hit by the coronavirus pandemic.

Speaking at the daily press conference at Downing Street, the Chancellor said the pandemic was a public health emergency but also an "economic emergency". There would be government intervention of an "unimaginable" scale to support businesses hit by the effective-lock down. "This is a time to be bold, a time for courage. The government will stand behind business small and large," he said. Government-backed loans amounting to £330bn will be made available from Monday. Any business who needs access to cash will be able to access government-backed credit, Sunak said. He added that ...