He is already on course to take state borrowing to World War Two levels as he subsidises 9 million jobs - equivalent to more than a third of private-sector workers - alongside other emergency measures. Britain, with a toll of close to 45,000 coronavirus-linked deaths, has been hit harder by the epidemic than any other European country. For the worst affected sectors of an economy that shrank by 25% over March and April, recovery remains a long way off. The Resolution Foundation think tank estimated the programme could help up to 300,000 young people into work. Sunak is also expected to cut property purchase taxes which could jump-start the housing market and the broader economy.

Source: bd News24 July 08, 2020 07:52 UTC