Chancellor Rishi Sunak has unveiled a raft of financial measures to shore up businesses and families hit by the coronavirus pandemic.
Speaking at the daily press conference at Downing Street, the Chancellor said the pandemic was a public health emergency but also an "economic emergency".
There would be government intervention of an "unimaginable" scale to support businesses hit by the effective-lock down.
"This is a time to be bold, a time for courage. The government will stand behind business small and large," he said.
Government-backed loans amounting to £330bn will be made available from Monday.
Any business who needs access to cash will be able to access government-backed credit, Sunak said. He added that if the original £330bn on the table was insufficient he would go further. There would be as much capacity as required, he added.
Speaking at the second daily national briefing, Boris Johnson said he would act like a wartime government to protect the nation.
"The government must respond with a profound sense of urgency. This enemy can be deadly but it is also beatable and we know how to best it and we will beat it.
"We have the resolve and the resources to win the fight."
Earlier, chief scientific adviser Patrick Vallance said the government hopes to keep the death toll from coronavirus to 20,000 or lower. "Which is horrible," he admitted.
He added the government would unsure how long the effective lock down would be in place, saying it would be months rather than weeks.
The Pensions Management Institute (PMI) has postponed all of its exams, while the Financial Conduct Authority (FCA) has moved to delay its consultation responses amid the market disruptions caused by the Covid-19 outbreak.
In this week’s Pensions Buzz, we want to know what you believe will be the most challenging impact of the coronavirus pandemic on your pension schemes.
A rise in the use of virtual trustee meetings could prove challenging for those involved but there are ways to improve their effectiveness, Aon says.
Voluntary accreditation of professional trustees will act as a quality mark and drive up scheme governance standards, argues Lesley Carline.
BT Pension Scheme Management's chief executive Morten Nilsson speaks to Jonathan Stapleton about his scheme's focus on member experience.