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Budget plans overtaken by virus

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Chancellor Rishi Sunak’s maiden Budget has been overshadowed by the growing impacts of the coronavirus outbreak on the UK economy.

9th Mar 2020
Editor at large AccountingWEB
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In interviews with the Telegraph and the BBC’s Andrew Marr Show on Sunday, the Chancellor vowed to announce measures in his Budget on Wednesday to protect UK businesses from the effects of the pandemic.

With just days to go before his big speech, Sunak would not be drawn on the detailed proposals, but said the government would give the NHS “all the support it needs to get through this” and that he was looking at ways to offer temporary support to small businesses.

Already, the coronavirus is having a visible impact that reaches beyond supermarket shortages of toilet paper and hand sanitiser to the wider the economy.

Events, travel and hospitality sectors have already borne the brunt of the outbreak. FlyBe was placed into administration last week. The ailing regional airline had been hanging on in hope of a relaxation in air passenger duty on domestic flights, but any Budget concessions will come too late.

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