The Prime Minister states the UK must "do whatever it takes" to support the economy amid the outbreak of the coronavius pandemic.

The Chancellor announces that "this is a medical emergency but also an economic emergency" as the country tackles the impact of the coronavirus.

In the press confrence from Downing Street, Chancellor Rishi Sunak announced £330 billion of the government-backed loans - 15 per cent of the country's GDP to support businesses with their rent and outstanding expenses. 

The government will be acting like a "wartime government" to help support the economy through these extreme measures.

Sunak said: "We're confident we have the capacity, we've been working around the clock to deliver this as soon as possible".

Loans of up to £5 million will be available with no interest for the first six months with grants of up to £25,000 per business will be available by next week to help them "bridge this business". 

He adds that no shops, pubs, theatres, venues, restaurants and any other business in that sector will pay business rates in the next 12 months. 

In addition to this, Sunak announced there will be a "three-month mortgage holiday" for vulnerable people who have been affected by the outbreak. 

Following the conference, renters have asked for clarity on whether they will be supported if they suffer financial difficulties due to the coronavirus.

Chief scientific adviser, Sir Patrick Vallance added that it's "remarkable" how quick a vaccine is made, with a vaccine in the UK that could go into clinical trials in April. 

This comes after a Basingstoke pharmaceutical firm is trying to develop a life-saving Covid 19 vaccine. 

The NHSare expected to recieve a  blank cheque with the Chancellor saying "whatever the resources the NHS wants, it will get".

Crescent Pharma Limited, on Sarum Hill, has developed a drug which is currently being used in clinical trials in China. 

Boris Johnson is keeping school closures under continuous review, despite three schools in Basingstoke being partially closed today due to staff shortages. 

The Prime Minister has advised that anyone with symptoms should stay at home for at least seven days, and if you are living with other people they should stay at home for at least 14 days to avoid spreading the infection outside the home.