Chancellor Rishi Sunak said government-backed loans worth £330 billion would be made available to support the economy amid the coronavirus pandemic.
Mr Sunak said the “unprecedented package” – equivalent to 15% of GDP – could go further if demand is greater, and vowed to do “whatever it takes” to help the economy.
The chancellor confirmed during the second of the Government’s daily briefings that he was extending the business rates holiday to all businesses in the hospitality sector and funding grants of up to £25,000 for smaller businesses with a rateable value less than £51,000.
But will they be enough to save small businesses?
• Subscribe to ITV News on YouTube: http://bit.ly/2lOHmNj
• Get breaking news and more stories at http://www.itv.com/news
Follow ITV News on Facebook: https://www.facebook.com/itvnews/
Follow ITV News on Twitter: https://twitter.com/itvnews
Follow ITV News on Instagram: https://www.instagram.com/itvnews/
