UNPRECEDENTED ECONOMIC PACKAGE TO ADDRESS CORONAVIRUS IMPACT

The UK Government has unveiled an unprecedented package of financial measures to combat the impact of the coronavirus outbreak.


The measures include £330billion for companies to access loans, support for airlines, a business rates holiday, and help for small firms without insurance - equivalent to 15% of UK GDP in total.


Chancellor Rishi Sunak told a press conference: “Never in peacetime have we faced an economic fight like this one."


The scale of the bail-out is unprecedented, with the UK using its economic might to respond to the crisis.


The deal will include what is known as ‘consequentials’ for Scotland through the Barnett Formula, meaning a generous share will be handed to the Scottish Government.


Nicola Sturgeon has pledged to pass on all the money her government receives to businesses here in Scotland.


It is vital that both governments work together in the interests of every citizen at this worrying time. We know it is a particularly difficult time for businesses in Scotland, which are the lifeblood of our economy.


At Scotland in Union our priority is the health of our volunteers, our supporters and our team.


We urge everyone to follow the advice issued by the UK and Scottish governments, and would like to thank everyone who is working on the frontline in the NHS and everyone who is volunteering to help in their communities.


Please look after yourselves and continue to follow the latest official advice, which you can find at www.nhsinform.scot.



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Scotland in Union is a Company Limited By Guarantee registered in Scotland, company number SC492324

272 Bath Street, Glasgow, G2 4JR