UK's Sunak: Total coronavirus measures will cost 7 billion GBP

"For businesses with under 250 staff, will refund the cost of up to 14 days of staff sick pay due to coronavirus," British Chancellor of the Exchequer, Rishi Sunak, said while presenting the annual budget on Wednesday.

Additional takeaways

"Business sick pay assistance will cost up to 2 billion GBP."

"Will also allow firms to defer tax payments."

"Will provide temporary coronavirus loans to businesses."

"Government will guarantee 80% of bank loans of up to 1.2 million GBP to small businesses."

"Will scrap business rates property tax altogether for some smaller firms."

"Will widen business property tax exemptions to more businesses."

"Business property tax cut will cost 1 billion GBP."

"Total coronavirus measures will cost 7 billion GBP."

"NHS will receive a 5 billion GBP coronavirus emergency response funding."