Chancellor Rishi Sunak’s colossal bailout of Britain’s businesses is music to The Sun’s ears

Rishi’s rescue

THE colossal bailout Rishi Sunak announced today, more than twice what it cost Britain to rescue our banks in 2008, is what The Sun wanted to hear.

It will be music to the ears of the vast number of firms and workers pole-axed by a catastrophe not of their making.

This is no time to worry about state borrowing and spending, our GDP or differing political ideologies. Coronavirus has handed us, as the Chancellor stated with chilling starkness, “the worst economic emergency in peacetime”.

It is this Government’s duty to prevent millions losing their livelihoods “whatever it takes”, to use Mr Sunak’s phrase.

Twelve years ago Labour rightly bailed out the banks to prevent economic collapse. The Tories’ “people’s bailout”, worth £350billion and counting, is of even greater importance and scale.

If it takes us many years to recover from it, well, so be it.

The cash grants of up to £25,000 and the year-long business rates holiday for every shop, pub and restaurant are a godsend for those facing ruin after their bookings fell off a cliff.

We do worry that many small-to- medium sized firms may still shut down rather than saddle themselves with debt to survive, no matter how attractive the interest rates.

And so far there is little to cheer the self-employed or those unable to pay their rent, even if there is a three-month holiday for mortgage-payers. Mr Sunak intends to help them — and must do so urgently.

Jobs are already being shed. Many workers are terrified they’re next. As impressive as this rescue package is, UK Plc will need even more if this disaster drags on for many months.

Meanwhile the Government must also relax any regulations necessary to help firms stay afloat.

Housing Secretary Robert Jenrick’s idea — to let cafes, restaurants and pubs automatically become takeaways and food delivery firms — is inspired, with millions now largely confined to home.

Let’s hear more like it.

Veteran victory

AT long last the nightmare is almost over for most of our forces veterans.

A new law will put a five-year deadline on prosecutions over actions taken in the heat of war. The only exceptions will be for compelling new and clear evidence of wrongdoing.

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It is a huge victory for them — and for The Sun after we convinced Boris ­Johnson to commit to it.

It was scandalous that any Government had allowed a witch-hunt, fuelled by tank-chasing legal firms, into Our Boys’ service in Iraq and Afghanistan. We now look forward to a similar Bill covering veterans of the Troubles.

Those ex-soldiers, now in their 70s, must not live out their retirements in fear of arrest while IRA killers sleep easy with effective pardons from Tony Blair.

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