LONDON, March 11 (Reuters) - British finance minister Rishi Sunak told ministers on Wednesday that his budget, alongside measures set out by the Bank of England, would make Britain “one of the best placed economies in the world” to tackle the impact of coronavirus.
The bank slashed interest rates by half a percentage point and announced support for bank lending just hours before Sunak is due to unveil a budget splurge designed to stave off a recession triggered by the coronavirus outbreak.
Following a meeting of Prime Minister Boris Johnson’s senior ministers on Wednesday, his office said Sunak had set out the measures the government would take to “ensure businesses, the public and those in public services working on the front line against the virus get the support they need”.
“He said despite the impacts of the outbreak being uncertain, we have the economic tools to overcome the disruption caused by the virus and move the country forwards,” Johnson’s office added. (Reporting by Kylie MacLellan and William James, editing by Estelle Shirbon)