UK extends job support, tax breaks for pandemic-hit economy

LONDON (AP) — Britain’s treasury chief has announced an additional 65 billion pounds ($91 billion) of support for an economy ravaged by the coronavirus pandemic. In his annual budget statement on Wednesday he extended job support programs and temporary tax cuts to help workers and businesses. Rishi Sunak said his plans would “protect the jobs and livelihoods of the British people” through September as the government slowly lifts lockdown restrictions that have shut businesses across the U.K. While the pandemic has pushed public borrowing to levels not seen since World War II, Sunak said it is too soon to cut government spending. The British economy has shrunk by 10% over the past year and more than 700,000 people have lost their jobs.