The new head of the Bank of England refused to rule out direct financial payments to workers and business today as he hinted it could take radical steps to tackle the impact of coronavirus. 'We will do what it takes to meet the needs of the economy and the needs of the people of this country. His comments come after Chancellor Rishi Sunak and the Bank unleashed a £350 billion package of support for the economy on Tuesday. Chancellor Rishi Sunak has said the Treasury is 'working around the clock' on a package of support measures to keep workers in their jobs through the coronavirus outbreak. The Bank also fleshed out details of its new business lending scheme, unveiled by the Chancellor on Tuesday, which will offer short-term bridging finance for large firms affected by coronavirus.

Source: Daily Mail March 18, 2020 16:27 UTC