FT News Briefing Sunak previews UK budget, von der Leyen warns of more pandemics, Lucid takes on Tesla
Mar 1, 2021
Chancellor Rishi Sunak announces a £5bn grant scheme to support businesses affected by the pandemic. Ursula von der Leyen warns Europe may enter an 'era of pandemics.' Japan is revising its corporate governance to foster a more outward-looking culture. In electric vehicles, Lucid Motors is gearing up to challenge Tesla's dominance. The rivalry between traditional car makers and new startups is heating up as the market undergoes significant changes.
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UK Budget Outlook
- UK Chancellor Rishi Sunak will extend pandemic aid for businesses until June 21st, aiming for a full reopening.
- He acknowledges the need for future tax increases to address the economic impact.
Preparing for Future Pandemics
- European Commission President Ursula von der Leyen warns of future pandemics, urging medical sector preparedness.
- She proposes a rapid reaction system for emerging threats and vaccine adaptation.
Hungary's Vaccine Choice
- Hungary has diverged from the EU's vaccine strategy, approving and using Chinese and Russian vaccines.
- Prime Minister Viktor Orban even publicized his Chinese jab on Facebook.