Chancellor Rishi Sunak began his Budget today outlining a £30bn package to help business get through the Coronavirus crisis.

Mr Sunak turned immediately to the impact on the economy of Coronavirus and said Covid-19 would cause significant disruption but it would be temporary, he believed.

He said, however, that the Coronavirus would mean up to a fifth of workers off sick at any one time and many businesses would be hit.

He announced a three point plan to beat Coronavirus including:

• More cash support for NHS

• Extension of Statutory Sick Pack to all self-isolating people even if they are not confirmed to have the virus plus more help for self-employed to access state benefits earlier

• Help for SMEs, including temporary abolition of some business rates for retailers and firms in leisure and hospitality 

Mr Sunak said there would also be temporary government-backed loans for firms cash-strapped by Coronoavirus problems.

The aim of the package overall is to ensure that firms cope with what he called the temporary impact of the virus.

He said: "We are doing everything we can to keep this country and our people healthy and financially secure."

The Budget is the new Chancellor’s first and the first Budget since October 2018. It will also be the first Budget post the election and post Brexit.

Mr Sunak took over as Chancellor from Sajid Javid in mid-February after Mr Javid stood down suddenly after being asked to dismiss his advisers.

• Join us throughout the day to find out more about what the Budget means for the Financial Planning and Paraplanning professions.