Live

Coronavirus news live: Chancellor Rishi Sunak promises £330 billion to help businesses

17 March 2020, 19:04

There will be major economical implications following coronavirus
There will be major economical implications following coronavirus. Picture: PA

By Maddie Goodfellow

Chancellor Rishi Sunak has promised £330 billion of government backed loans to help businesses amid the coronavirus outbreak.

Mr Sunak told the Commons: "The Government will stand behind businesses small and large.

"I can announce today an unprecedented package of Government backed and guaranteed loans to support business to get through this.

"Today I am making available an initial £330 billion of guarantees, equivalent to 15% of our GDP.

"I said whatever it takes, and I meant it."

It comes as the entire UK population is being urged to follow unprecedented peacetime measures to try to control the spread of coronavirus.

The Prime Minister's asking everyone to avoid pubs, clubs and theatres, stop all non-essential contact and travel, and work from home if it's possible.

It's emerged the government ramped up its coronavirus measures yesterday after scientists warned as many as a quarter of a million people in the UK could die otherwise.

The influential team at Imperial College says social distancing might have to be in place for 18 months or until a vaccine is developed.

Read more: Coronavirus - Who should self-isolate and for how long?

If you - or someone you live with - has a persistent cough or fever the whole household should stay home for 14 days.

People are also being advised to only make essential journeys.

Follow all the events of the day in our live news feed:

Happening Now

More Latest News

See more More Latest News

Police have released images of a man they want to speak to

Manhunt for rapist who attacked two women in London four years apart - and 'probably targeted more victims'

Louis Gossett Jr. has died aged 87

Louis Gossett Jr, first black man to win Oscar for Best Supporting Actor, dies aged 87

Jeffrey Donaldson

DUP's Jeffrey Donaldson 'charged with historic sex offences' as he steps down as party leader

Russia bombed Ukrainian infrastructure overnight

Russia launches 'massive attack' on Ukraine's power supplies, with 'energy security under growing threat'

Newry Magistrates' Court

Man, 61, charged with non-recent sexual offences in Northern Ireland

Drivers queuing in Dover on Friday morning

Holidaymakers hit with 2-hour Dover ferry waits amid strong winds, as 2.6m hit the roads for Good Friday getaway

The attack happened on a train in south London

Teenager charged with attempted murder after south London train stabbing, with victim still in critical condition

Mother Natalie Pinnell

Mother left in tears after daughter with complex needs 'erased' from school photo

Amber Rudd and Mary Beard have both been nominated to the Garrick Club

Amber Rudd and Mary Beard among seven women nominated for membership of all-male Garrick Club

Exclusive
Anneliese Dodds said Labour would make sure local people have 'skin in the game' with tackling inequality

'Rebuild has to start from ground up,' Labour's Anneliese Dodds says, and 'local people must have skin in the game'

Mohamed Mansour has been awarded a knighthood

Conservatives accused of 'cronyism' after donor who gave £5 million awarded knighthood in surprise honours list

Exclusive
Justin Welby recalled his experience of coping with his father's drinking as a teenager.

‘It was utterly isolating’: Archbishop of Canterbury recalls harrowing childhood with alcoholic father

More than 2 million drivers are set to hit the road on Good Friday.

Easter Carmageddon: Over two million drivers to hit the road on Good Friday after Storm Nelson travel chaos

Michael Gove has slammed the water firm as a 'disgrace'.

Thames Water bosses branded a ‘disgrace’ as Michael Gove tells firm ‘not to punish consumers’ for its failings

South Africa Bus Crash

Girl, 8, the sole survivor as 45 die in bus crash off South Africa bridge

A spokesman has denied reports the sausage dog could be banned.

The wurst news is over: Germany denies claims of sausage dog ban