Budget with an eye on coronavirus

Written by David Fletcher 12 Mar 2020
Budget with an eye on coronavirus

Chancellor Rishi Sunak delivered his first Budget in the House of Commons on 11 March. Parts of it appear to have been written at the last minute as coronavirus spreads across the nation. His spending plans include a £5bn emergency response to support the NHS and other public services with statutory sick pay for all who choose to self-isolate, even if they don't have virus symptoms. Benefit claimants will be able to claim sick pay on day one, not after a week, and there is a £500m hardship fund allocated to help vulnerable people. To try to save businesses from liquidation, firms with fewer than 250 staff will be refunded for sick pay payments for two weeks, and small firms will be able to access ‘business interruption’ loans of up to £1.2m. Business rates will be abolished for firms in the retail, leisure and hospitality sectors with a rateable value of less than £51,000.

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  • Pray: for these spending boosts to neutralise the negative effects that the virus could have on manufacturers, importers, shops and the hospitality industry. (Proverbs 1:3)