in the know

Virus: Will government rescue package be enough for firms?

The government has announced the biggest intervention in private sector business since the Second World War to help fight the economic impact of coronavirus.

The questions it will try to answer later on Monday are: “How will it work? How do I get the money? What will it mean for my business and my staff?”

The British Business Bank will act as intermediary between the Treasury and the High Street banks who will be at the front line of getting it to customers.

At £350bn, the promised supply of financial support is enormous. But details on how the loan guarantees and grants announced in the Budget will be distributed in practice need to be clarified urgently.

Some of this is not straightforward so please bear with me.