UK to Pump GBP 200 B in Stimulus Spending

The British Ministry of Finance is pumping GBP 200 billion in economic stimulus, Finance Minister Rishi Sunak announced on Thursday.

This comes after the Bank of England announced that it has expanded its asset purchase program by GBP 150 billion.

The move to purchase government debt will help the cabinet fund the rise in public expenditure.

“It’s clear the economic effects are much longer-lasting for businesses than the duration of any restrictions, which is why we have decided to go further with our support,” Sunak said to the parliament, according to Reuters.