Rolling coverage of the latest economic and financial news, as the chancellor of the exchequer warns that many more jobs will be lost before the Covid-19 crisis is over
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Britain’s Covid-19 jobs crisis is building day by day, with cinema group Cineworld putting 5,500 staff out of work from Thursday as it shuts its screens.
What’s happening in our economy is significant and severe. Many people are losing their jobs.
So the focus of all my attention in the short term is doing what we can to support as much employment as possible.
Tuesday’s EXPRESS: Payback time! Covid tax rises on the way #TomorrowsPapersToday pic.twitter.com/JQT8UkynMM
Over time, yes, we need sustainable public finances. In the short term, the best way to have long term sustainable public finances is to protect as many jobs as possible.
Asked about looming tax rises, Rishi Sunak also says his focus now is on jobs & his priority “in the short term” is employment. Adds that over time finances will need to be put on a sustainable footing but won’t be drawn on how he’ll do that.
Hundreds of thousands of people are losing their jobs as we speak. Many more will.
That’s happening on my watch and I need to try and do what I can to provide fresh opportunity for people and protect as many jobs as possible.
Related: Cineworld’s zero-hours staff face no pay as it confirms UK shutdown
Such devastating news. On the day the Chancellor boasts about the job he has done, further evidence the Government’s job support scheme just doesn’t work and will leave viable businesses – and their workers – out in the cold. https://t.co/5ZYZiko88z
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Related: ‘Don’t be afraid’: Trump downplays Covid dangers after removing mask at White House – live