Britain unveils £330 billion government backed loans and other measures to help businesses and families

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The British Government announced Government-backed loans worth £330bn and a three-month mortgage moratorium, as part of “unprecedented” measures to help businesses and families.

 

Rishi Sunak unveiled the package of support at a Downing Street news conference on Tuesday as he said the UK faced an “economic emergency” in the face of the coronavirus pandemic.

Britain said it would offer 330 billion pounds of loan guarantees, equal to 15% of its gross domestic product, and other measures to help struggling business as it ramped up its attempt to fight the economic hit from coronavirus.

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