Sunak throws budget lifeline to small firms battling coronavirus
Such good intentions will only be truly tested if the economic fallout becomes severe
The chancellor's emergency measures for the coronavirus economy were targeted almost exclusively at small and medium-sized businesses, or SMEs, the sector where a short-term cashflow crisis can quickly become terminal. For big business, Rishi Sunak offered fewer handouts. The Bank of England, it seems, has been handed the job of protecting them from the global storm.
As an exercise in minimising economic damage, the thinking makes sense. The government cannot restore a supply chain that requires goods to arrive from China or northern Italy, but it can help pubs, clubs, restaurants and retailers on deserted UK high streets.
Related: 'It's really hit us': UK small businesses on impact of coronavirus
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