LONDON - Britain said it would launch a £330 billion lifeline of loan guarantees and provide a further £20 billion in tax cuts, grants and other help for businesses facing the risk of collapse from the spread of coronavirus.
Companies from those sectors would be offered cash grants and the government would discuss a support package for airlines and airports. The Institute for Fiscal Studies, a think-tank, said Sunak would need to"come back with more" and Allan Monks, a JP Morgan economist, said that excluding the loan guarantees, the size of Britain's stimulus measures for this year was"likely to look small compared to the economic shock under way."
Earlier on Tuesday, Britain's budget forecasters said the scale of the borrowing needed to fight the coronavirus hit to the economy might resemble the country's immense debt splurge during World War II.
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