Supporting Britain's economy

Today's GDP figures, showing economic activity down by a just over a fifth, indicate the dire impact of COVID-19 on our economy. It has been similarly dire for every comparable country.

The Government has taken huge and unprecedented measures to support Britain’s economy through this pandemic, supporting businesses and helping families to pay their bills. 
  • Today’s GDP figures show that, in line with most other countries around the world, Covid-19 is having a severe impact on the UK economy.
     
  • The Government’s top priority has always been to support people, protect jobs and businesses through this crisis.  Hence the introduction of the furlough scheme, grants, loans and tax cuts – providing lifelines for thousands of businesses and millions of jobs.
     
  • The Coronavirus Job Retention Scheme has supported nearly 9 million jobs, and the Self-Employment Income Support Scheme is supporting more than 2 million self-employed people. Figures released yesterday show how this support has been spread across every part of our country.
     
  • Because of this action to retain millions of people’s jobs and incomes through the worst of this crisis, Britain is in a better position to recover, so we can now focus our energies on gradually and safely reopening our economy.
     
  • On Monday, shops across the country will be reopening safely, as we start to get our lives a little bit more back to normal and kickstart our economy.



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