Chancellor outlines plans to rebuild UK economy after Covid

Chancellor Rishi Sunak has outlined a three-stage plan to rebuild the UK economy after the coronavirus pandemic caused “one of the largest, most comprehensive and sustained economic shocks this country has ever faced”.

Speaking in the House of Commons, Sunak said it will take the UK and the whole world a “long time to recover from this extraordinary economic situation”.

He said: “First, we will continue doing whatever it takes to support the British people and businesses through this moment of crisis.

“Second, once we are on the way to recovery, we will need to begin fixing the public finances – and I want to be honest today about our plans to do that. And, third, in today’s Budget we begin the work of building our future economy.”

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