Today, I am making available an initial £330bn of guarantees – equivalent to 15% of our GDP. Measures include:
If demand is greater than the initial £330bn I’m making available today, I will go further and provide as much capacity as required.
Today, I provided those businesses with an additional cash grant of up to £25,000 per business.
To support their cash flow, today I can increase those grants to £10,000.
These are only the first steps – I will set out the next stage of our response in the coming days.