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U.K. Government Preparing Stimulus Package for July, FT Says

  • Proposals said to include training, infrastructure spending
  • Newspaper says up to half of ‘bounce back’ loans may default

The U.K. government is preparing to unveil an economic stimulus package in July as it steps up attempts to lessen the depth of the recession caused by the coronavirus pandemic, the Financial Times reported, citing unidentified government officials.

Chancellor of the Exchequer Rishi Sunak is working on proposals to invest in training programs, infrastructure and help for technology firms, it said. He will also make a major speech in June to encourage people back to work as the shuttering of businesses to stem the transmission of the virus leads to a surge in unemployment.