Financial safety

Chancellor Rishi Sunak 'could underwrite £17,000 of salary for EVERY worker' by waiving income tax or national insurance in massive new coronavirus bailout package to stop millions of workers being laid off

Chancellor Rishi Sunak could underwrite around £17,000 of every worker's salary in huge new coronavirus bailout today.

The massive rescue package is set to be unveiled by Mr Sunak and Boris Johnson after furious complaints that they were not doing enough for ordinary people.

There have been warnings that GDP could be slashed by a fifth and a million could lose their jobs within months - with many more to follow - after 'social distancing' measures brought the economy to a halt.  

Mr Sunak is believed to be considering options including lowing income tax payments or National Insurance.