Sunak says COVID-19 lifelines will help economy to recover

FILE PHOTO: Britain's Chancellor Rishi Sunak chairs the daily COVID-19 briefing at 10 Downing Street in London, Britain May 29, 2020. Andrew Parsons/10 Downing Street/Handout via REUTERS

LONDON (Reuters) - The coronavirus pandemic has had a severe impact on Britain’s economy but the steps the government has taken, including supporting salaries, grants and tax cuts will help it to recover, finance minister Rishi Sunak said on Friday.

“In line with many other economies around the world, coronavirus is having a severe impact on our economy,” he said.

“The lifelines we’ve provided with our furlough scheme, grants, loans and tax cuts have protected thousands of businesses and millions of jobs – giving us the best chance of recovering quickly as the economy reopens.”

Reporting by Kate Holton and William Schomberg; editing by Sarah Young