Rishi Sunak is delivering his budget – here is rolling coverage of the main points, updated throughout the speech
The chancellor says he would do “whatever it takes” during the pandemic, and that he has done and will continue to do so. He says there has been acute damage to the economy, with more than 700,000 people losing their jobs, the economy shrinking by 10% – the largest fall in 300 years, and borrowing is highest it has been outside of wartime. “It’s going to take this country, and the whole world, a long time to recover from this extraordinary situation,” he says.
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