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UK businesses feel impact of latest measures
Date: Mar 17 2020 Submitted By:   Admin

Britons and UK businesses are feeling the impact of unprecedented coronavirus measures, as the chancellor prepares to unveil plans to help the economy.

Retailer Laura Ashley filed for administration as venues across the UK closed their doors, and airports warned they could shut down "within weeks".

It comes after the government outlined new advice to avoid unnecessary travel and contact with others.

And watchdog the OBR told MPs some businesses will 'inevitably' fail.

The head of the Office for Budget Responsibility, Robert Chote said Britain was facing something akin to a wartime situation for its public finances and a temporary spike in borrowing would be sensible.

On Monday, the Prime Minister said people should work from home where possible, and stay away from pubs and restaurants. People in at-risk groups will be asked within days to stay home for 12 weeks.

The number of people who have died with the virus in the UK has reached 55.

More than 1,500 people have tested positive for the virus in the UK - but the actual number of cases is estimated to be between 35,000 and 50,000.

The UK's shift in strategy comes as Europe plans to ban all non-essential travel throughout the Schengen free-travel zone, as more countries close their borders.

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