British Finance Minister Rishi Sunak is announcing the government’s new plan to support the economic recovery and the labour market.
Key quotes (via Reuters)
“Extending the deadline of all loans schemes to end of this year.”
“Will allow businesses to spread vat bill due in March.”
“Bounce-back loans will be extended to 10 from 6 years.”
“Firms in trouble can suspend repayments for 6 months.”
“Will extend government guarantee on Coronavirus Business Interruption Loan Scheme (CBILS) loans for up to 10 years.”
“Will launch a successor loan guarantee scheme to begin in January.”
Market reaction
These remarks don’t seem to be having a significant impact on market sentiment. As of writing, the UK’s FTSE 100 Index was still down 0.3% on the day at 5,881.
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