Chancellor tells MPs that total value of coronavirus stimulus is £30bn
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12.56pm GMT
Rishi Sunak’s £30bn fiscal stimulus is being welcomed by economists.
Here’s EY’s chief UK economist, Mark Gregory:
This is a massive fiscal stimulus. Good news for online businesses selling to people stuck at home #Budget2020
Safe to say this is a big budget announcement here – a £30bn fiscal package targeting the real economy and health services. Financial assets almost in standstill watching this unfold.
The Chancellor has announced not only a significant £30bn fiscal loosening but also indicated that he will be keeping the situation under review so we might see more even before an expected Autumn Budget – @AHendersonTax #Budget2020
12.56pm GMT
A summary of the @OBR_UK forecast and other economic data. The fundamentals of the UK economy are strong. #Budget2020 pic.twitter.com/Qnraj86efn
