What’s inside UK Finance Minister Sunak’s blank check to counter coronavirus


by   |  VIEW 329
What’s inside UK Finance Minister Sunak’s blank check to counter coronavirus

On Friday, the 20th of March 2020, UK’s Finance Minister Rishi Sunak of Indian origin who had replaced a long-time Tory veteran Sajid Javid last month and had submissively tightened PM Johnson’s grip over the UK Treasury, had unveiled a monstrous stimulus package to stabilize the coronavirus-struck economy of United Kingdom.

Meanwhile, adding that the economic stimulus Sunak was going to unfurl would likely to be largest-ever in the history of United Kingdom, UK Finance Minister Rishi Sunak, the Briton’s shimmering candle of hope amid a stubborn growth of newer coronavirus cases across the six-largest economy in the world, said on Friday (March 30th), “Today I can announce that for the first time in our history the government is going to step in and pay people’s wages.

We’re also telling nightclubs, theatres, cinemas, gyms and leisure centres to close on the same timescale. These are places where people come together... The sad thing is today, for now, at least physically, we need to keep people apart……I’m also announcing today further cash flow support through the tax system.

To help businesses pay people and keep them in work I’m deferring the next quarter of VAT payments, that means no business will pay any VAT from now until the end of June. ” Besides, Sunak had also pledged a direct injection of more than £30 billion in cash or 1.5 per cent of UK’s entire GDP to a raft of reeling UK businesses.