HIGHLIGHTS-UK's Sunak goes all out to avert economic collapse

British finance minister Rishi Sunak launched a gigantic stimulus package to stabilise Britain's virus-hit economy on Friday, including the government paying the wages of workers up and down the country. Here's what he said at a news conference with Prime Minister Boris Johnson.

UNPRECEDENTED MEASURES "The economic intervention that I am announcing today is unprecedented in the history of the British state."

PAYING WAGES "Today I can announce that for the first time in our history the government is going to step in and pay people's wages."

TAX HOLIDAY FOR BUSINESSES "I'm also announcing today further cash flow support through the tax system. To help businesses pay people and keep them in work I'm deferring the next quarter of VAT payments, that means no business will pay any VAT from now until the end of June and you'll have until the end of the financial year to repay those bills."

HARDSHIP AHEAD "The truth is we are already seeing job losses and there may be more to come. I cannot promise you that no-one will face hardhship in the weeks ahead."

30 BILLION POUNDS OF DIRECT SUPPORT TO BUSINESSES "That is a direct injection of over 30 billion pounds of cash to businesses, equivalent to 1.5% of GDP."