Rolling coverage of the latest economic and financial news, as the chancellor of the exchequer warns that many more jobs will be lost before the Covid-19 crisis is over
- Sunak: Priority is protecting employment
- Need sustainable public finances eventually
- Miliband: Sunak’s wage subsidy scheme doesn’t work
The Today Programme then challenge Sunak on his claim yesterday that there’s a ‘sacred’ responsibility to balance the books.
Q: Which taxes will rise, and when?
We need to get through this, and once we get through it of course we need strong public finances.
These crisis come along every so often, and when they come along we need to be strong enough to respond.
Rishi Sunak’s media tour has taken him to Radio 4’s Today programme, for another round of questions about the economy.
Asked about his comments last month that people should live without fear, the chancellor explains that the UK economy is ‘particularly driven by consumer activity’.
“That is going to mean that our economy undergoes some change, and it is right for that to happen, and is therefore wrong to pretend to people that they can always, in every circumstance, go back to the job that they had before this started.
Companies care about their employees as people, not just numbers on a spreadsheet…
I think it will help companies for whom demand hasn’t quite returned to levels they were used to.