UK chancellor Rishi Sunak unveiled an additional £30bn (€33.3bn) stimulus to the British economy to fend off a potential jobs crisis that includes a bonus for employers for every job they keep, a cut in Vat for restaurants, and a €10 voucher to encourage people to eat out this summer.

Britain’s chancellor of the exchequer has reportedly told colleagues the economy could shrink by up to 30% this quarter because of the coronavirus lockdown, as the soaring death toll gave little hope restrictions would soon be lifted.

British banks must keep lending to businesses through the coronavirus crisis to ensure viable companies do not fail, the government and Bank of England said, after promising £330bn (€360bn) in loan guarantees.