(The Sun) – Rishi Sunak today wrote a £350 billion cheque to keep families and businesses afloat during the coronavirus crisis and pledged – We will do whatever it takes.

His people’s bailout will be the biggest rescue package in peacetime.

Apart from mortgage breaks, it will provide loans of up to £25,000 and a year’s relief from business rates for shops, pubs and restaurants and millions more for bigger businesses.

Billions of pounds will also be pumped into the NHS.

The Chancellor’s extra measures to keep the sinking economy afloat included:

£350billion in guaranteed loans for businesses – equivalent to 15 per cent of GDP

Three month mortgage payment holiday for struggling homeowners

Loans of up to £5million for small businesses – interest free for six months

Big companies can get low cost Bank of England loans

Cash grants of up to £25,000 for pubs, restaurants and other hospitality and retail businesses

A one year holiday from business rates for retailers

Pubs and restaurants to become takeaways without planning permission

Businesses insured against pandemics can claim

Another £3.5billion for Scotland, Wales and Northern Ireland for businesses

Pledge of more money for the NHS if and when it’s needed

Work with unions and businesses over sick pay, workers’ rights and welfare benefits

Just one day on from the PM warning the nation to avoid pubs, theatres, restaurants and all social gatherings, he announced that more extreme measures are on the way in the coming days.

Officials believe 55,000 Britons may have the virus – more than five times last Thursday’s estimate.

Sir Patrick Vallance, the Government’s chief scientific adviser, told MPs the latest lockdown would keep the death toll below 20,000.

He said, But that’s still horrible. It’s still an enormous number of deaths.

The death toll in Britain hit 71 today – with 12 new fatalities, including the youngest victim yet, a 45-year-old man.

“PROTECT LIVES”

The PM said, We must act like any wartime Government and do whatever it takes to support the economy. We may have to go further and faster in the coming days to protect lives.

Mr Johnson stressed that their package of measures would be able to make sure businesses have the cash they need as soon as possible.

He added, One day, the UK economy is going to bounce back. That’s why we are taking the steps to protect them that we are today.

Mr Rishi Sunak said firms would be given access to a £330 billion coronavirus business interruption loan” fund to pay rents, staffing bills or suppliers- if they need it.The loans will be increased from £1.2 million to £5 million – and will be interest-free for the first six months.

Ministers are working at break-neck speed to make them available in banks from next week.

He said, We have never in peacetime faced an economic fight like this one. This Government will give you all the tools you need to get through this.

To support jobs, incomes and business – and help you support your loved ones. We are well prepared. We will get through this.

“CHEQUE-MATE”

The Chancellor played down President Trump’s approach to the crisis – after he announced plans to pay hard-up Americans with cash directly if they need to.

But crucially he did not rule out such a radical approach in future.

He said it was his first preference to reform employment and income support, but added, If the need arises for further action, we can obviously look at that.

We of course stand ready to do whatever it takes.

The £350 billion bailout comes one week after the Chancellor outlined a bumper coronavirus Budget with £30 billion of measures to push through to boost the economy.

Businesses welcomed the packages – but some suggested more will need to be done by the Bank of England, including quantitative easing and interest rate cuts.

The Federation of Small Businesses said, The key now is to deliver these measures within the coming days with no hold-ups at banks, local authorities or central government.

Also read: Florida woman licks plane toilet seat for “coronavirus challenge”.

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