The Chancellor has announced that for businesses with fewer than 250 employees the cost of providing sick pay to staff with coronavirus will be refunded for 14 days. To read more about Budget2020, click here:
Mr Sunak vowed the government was"doing everything" to keep the UK"healthy and financially secure", including giving the NHS"whatever" it needs to deal with coronavirus.
An"exceptional" business rates holiday for retail, leisure or hospitality firms with a rateable value of under £51,000 There was also £18bn of pledges designed to boost the economy already planned before the coronavirus outbreak. Confirming other Tory manifesto pledges, Mr Sunak announced the national insurance threshold will increase from £8,632 to £9,500.
"This is a budget delivered in challenging times," the chancellor said at the end of his hour-long address."This budget delivers security today. But it also lays the foundations for prosperity tomorrow." "The reality is that this is a budget which has an admission of failure - an admission that austerity has been a failed experiment.
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