Britain tackles virus fallout

London – British Chancellor Rishi Sunak unveiled his annual budget yesterday, promising measures to safeguard businesses and jobs, while tackling virus-fuelled debt as England prepares to exit its third lockdown.

Ahead of the budget statement in parliament, Prime Minister Boris Johnson’s Conservative government said it would extend its furlough scheme, paying the bulk of wages for millions of private-sector workers until the end of September, five months longer than planned.

“We will continue doing whatever it takes to support the British people and businesses through this moment of crisis,” Chancellor of the Exchequer Sunak said, according to prereleased excerpts of his speech.

“There’s now light at the end of the tunnel with a roadmap for reopening, so it’s only right that we continue to help business and individuals through the challenging months ahead – and beyond.”

Sunak also said that once the economy was “on the way to recovery, we will need to begin fixing the public finances”.

The multibillion-pound furlough scheme has contributed to soaring government debt, which Sunak may tackle in part by announcing a rise in corporation tax or a levy on company profits.