The UK economy will “get worse before it gets better” as the country battles the pandemic, Chancellor Rishi Sunak has warned.
The chancellor told MPs the new national restrictions were necessary to control the spread of coronavirus.
However, he said they would have a further significant economic impact,
“Even with the significant economic support we’ve provided, over 800,000 people have lost their job since February,” he said.
“Sadly, we have not and will not be able to save every job and every business.
“But I am confident that our economic plan is supporting the finances of millions of people and businesses.”
The chancellor said “the road ahead will be tough”, but maintained that the government was “taking the difficult but right long-term decisions for our country”.
He said that fiscal stimulus provided so far amounted to more than £280bn, while 1.2 million employers had furloughed almost 10 million employees.
At the same time, three million people had benefited from self-employment grants.
Mr Sunak said he would “bear in mind” calls to extend business rate relief and provide further support for the hospitality sector at the Budget in March.
Shadow chancellor Anneliese Dodds accused Mr Sunak of being “out of ideas” and providing “nothing new”.
She said: “The purpose of an update is to provide us with new information, not to repeat what we already know.”
- Angry Ghanaian youth take #FixTheCountry protests to social media after court injunction
- Benjamin Azamati qualifies for Tokyo Olympics 200m event
- Playback: Finance Minister addresses nation amidst #FixTheCountry protest
- Ghana Month Series: Sunyani Traditional Area discounts Krontihene’s narration of historical facts
- Electoral Commission has no beef with NDC – Bossman Asare
- #FixTheCountry: Bang your utensils, toot your horns on Sunday – Conveners announce format for virtual protest
- #FixTheCountry: Mere speeches won’t cut it, people want something substantive – Protestors tell Finance Minister
- #FixTheCountry convener’s claim of phone cloning false and baseless – Oppong Nkrumah
- Government will address issues raised by #FixTheCountry conveners – Ofori-Atta
- Prof Sitsofe Enyonam Anku
Real Madrid miss chance to go top after Sevilla draw
Juventus drop out of top four after Milan defeat
Statement attributable to the Spokesperson for the Sec.-Gen. – on the death of Lt. Gen. Erskine – first UNIFIL Force Commander
Man Utd comeback at Aston Villa keeps Man City waiting on title
Francis-Xavier Sosu: CNN interview – Akufo-Addo lied or has lost touch with reality in Ghana
Queen mothers lobby for appointment of female as Kwaebibrem MCE
#FixTheCountry: If all we need is patience, then government is misreading our demand – Barker-Vormawor
Let us #FixTheCountryTogether – Ofori-Atta urges Ghanaians
2020 Election petition: We paid our lawyers well to do a good job – Bossman Asare
Residents, students in Yapei displaced after rainstorm
Government will address issues raised by #FixTheCountry conveners – Ofori-Atta
Let’s ignite the spirit of nation building- NCCE to Ghanaians
Ghanaians can testify to how EC excellently executed election 2020 – Bossman Asare
#FixTheCountry: Mere speeches won’t cut it, people want something substantive – Protestors tell Finance Minister
#FixTheCountry: Government should have kept quiet to listen to the people – Barker-Vormawor