It now looks as if the Chancellor, Rishi Sunak, will tomorrow (Friday 20 March) announce a major scheme to compensate workers unable to work because of the coronavirus.
Prime minister Boris Johnson made this clear this evening at his fourth Downing Street press conference when he urged companies to stand by their workers.
And in turn he said: “the government will stand by you”.
Boris Johnson made this pledge under increasing pressure from business who find themselves in danger of having to make workers redundant or even close their companies.
Business West are now receiving an increasing number of questions from companies concerned about their future.
We have now established a Trading Through Coronavirus segment on our website to answer company questions on the virus crisis.
For the first time, the prime minister gave something of a vague timeline in this crisis.
He said: “We can turn the tide within 12 weeks” and added that the virus “would be sent packing”.
The glimmer of some hope for business came on a day when the Bank of England cut interest rates from 0.25% to 0.1%.
This now leaves the UK in an unprecedented economic crisis.
The total deaths in the UK from Coronavirus have now reached 137-up 33 in the last 24 hours with 16 of those deaths in London.
And in Italy, 5,405 people have now died - passing the figure of virus deaths in China.
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