NewsColony

Coronavirus: Chancellor prepares wage package rescue plan NewsColony Image copyright Getty Images Image caption Chancellor Rishi Sunak is set to announce a wage subsidy package The chancellor is set to announce an employment and wage subsidy package to try to protect millions of jobs. Talks went on into the night with business groups and union leaders, who urged the government to help pay wages amid the coronavirus pandemic. Many firms are warning of collapse, wiping out thousands of jobs, as life in the UK is largely put on hold. It is the latest in a string of big fiscal attempts to ease the burden on businesses and their employees. Prime Minister Boris Johnson signalled Chancellor Rishi Sunak would be saying more on Friday about the extended package the government is putting forward for workers. The PM has urged struggling businesses to “stick by their employees, because we’re going all going to need them”. ‘There isn’t time. Firms are closing now’ UK interest rates s...