UK's Sunak: Damage COVID has done to economy has been acute

British finance minister Rishi Sunak is delivering his budget statement to parliament on Wednesday.

Key takeaways as summarized by Reuters

"I will do whatever it takes."

"Damage covid has done to the economy has been acute."

"Our borrowing is highest it has been outside wartime."

"The UK and world will take a long time to recover."

WWill project jobs and livelihoods in the UK."

"When we are on way to recovery we will need to begin fixing public finances."

"OBR sees a swifter and more sustained recovery than in November."

Market reaction

These comments don't seem to be having a significant impact on market sentiment. As of writing, the UK's FTSE 100 Index was up 0.8% on the day at 6,665.