UPDATE 5-UK unveils $400 billion lifeline for firms hit by coronavirus [Reuters]
COMPASS GROUP SP/ADR (CMPGY)
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Source: Reuters
UK to unveil business rescue package as coronavirus hammers economy LONDON (Reuters) - Britain will on Tuesday unveil a rescue package for businesses threatened with collapse by the coronavirus outbreak as budget forecasters said the scale of the borrowing needed might resemble the immense debt splurge during World War Two. British Prime Minister Boris Johnson, who told people to avoid pubs, clubs, restaurants, cinemas and theaters on Monday, was expected to address the nation alongside finance minister Rishi Sunak later on Tuesday. Sunak last week announced help for business, including some tax suspensions for smaller firms, alongside emergency moves by the Bank of England. But the virtual shutdown of swathes of the economy since then has forced the government - like many other countries around the world - to come up with a new plan. Britain’s independent budget office drew comparisons with World War Two. “Now is not a time to be squeamish about public sector debt,” Robert Chote, hea
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