Sunak Gambles 30 Billion Pounds on Plan to Save U.K. Economy

Rishi Sunak set out a 30 billion-pound ($37.6 billion) blueprint to save jobs and inject confidence into the U.K.’s coronavirus-battered economy.

In a statement to Parliament, the Chancellor of the Exchequer announced tax cuts on home-buying and dining out, and a new bonus program for employers who don’t fire their staff.

“We face profound economic challenges,” the Chancellor of the Exchequer told the House of Commons on Wednesday. “In just two months our economy contracted by 25% -- the same amount it grew in the previous eighteen years.”

WATCH: Sunak promised to do everything he can to save jobs and pump life into the U.K. economy.

Source: Bloomberg

With a budget due in the fall, Sunak signaled he will ...