Chancellor Rishi Sunak has had no option but to open the taps during the pandemic and while there is still much more spending to come, he has made it clear this cannot carry on forever.
The furlough scheme that has cost Britain £53billion will be extended to the end of September as Rishi Sunak vows to do 'whatever it takes' to help the economy recover. Comment: Note that's just what the government has paid out, this sum does not.
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Raising the contactless payment limit to £100 will make it easier for fraudsters to spend large sums of victims cash in one go, experts have warned.
Chancellor Rishi Sunak said the cap was set to more than double, ahead of shops reopening in April.
Mr Sunak s Budget states banks will be able to permit contactless payments of up to £100. Customers will be able to spend up to £300 without the need for to input their pin number.
The Budget document adds: The government looks forward to the banking industry implementing the new limits later this year.
But experts have warned it will be even easier for a fraudster to spend large sums of the victim s money .
In a crucial Budget that will set the country s course for years, Rishi Sunak is extending the £53billion furlough scheme for an extra five months, as well as keeping self-employed and business bailouts.