finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

US and European Governments Announce Immense Stimulus Plans

In response to the continuing coronavirus pandemic, world governments are planning to enact economic stimulus plans on an unprecedented scale.

Posted: 18th March 2020 by Finance Monthly
Share this article

US Treasury Secretary Steve Mnuchin said on Tuesday that he supports “sending cheques to Americans immediately” as part of a $250 billion relief effort.

This effort is itself part of a $1 trillion aid plan intended to shore up the US economy as businesses and public events close in response to the spread of COVID-19. This aid package also includes a bailout for airlines and hotels, two industries that have been hardest hit by the pandemic.

Also on Tuesday, UK chancellor Rishi Sunak unveiled further stimulus measures for UK businesses that included £330 billion of guaranteed business loans and £20 billion in other aid. Additional measures included grants for retailers and pubs, and a business rates holiday.

Never in peacetime have we faced an economic fight like this one,” the chancellor said in a statement, adding that help for airlines was also being considered.

In France, Finance Minister Bruno Le Maire outlined plans for a €45 billion aid package for small businesses, and pledged to “guarantee bank loans up to €300 billion”.

Elsewhere, the Australian government is reportedly weighing a second rollout of stimulus measures to combat continued stock market losses, and Japanese Prime Minister Shinzo Abe intends to form a panel of key ministers and the governor of the Bank of Japan to help the Japanese economy weather the pandemic.

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram