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Sunak set to extend support

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Chancellor Rishi Sunak has indicated that his Budget will see a range of emergency coronavirus support measures extended, with the furlough scheme, bounceback loans, targeted VAT cuts and the stamp duty reductions set to remain in place until June. Speaking ahead of his upcoming Budget, Mr Sunak said: “We went big, we went early and there’s more to come next week”. He suggested that support would be extended in line with the roadmap out of coronavirus restrictions set out by the Prime Minister, saying: “I want to support people and businesses along that path.” Mr Sunak told the BBC’s Andrew Marr that while the Budget will seek to provide support, he wants to “level with people” about the “shock to the economy” caused by pandemic, adding that he wants to “be honest” with the public about the pandemic’s impact on the economy and “clear about what our plan to ad dress that is”. The Chancellor said making public finances sustainable “isn’t going to happen overnight”, warning that debt could “rise indefinitely” if borrowing continued after the recovery.

 

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