UK's Sunak: We're not in favour of a universal basic income

"We are confident that measures put in place will ensure we get through coronavirus," British Finance Minister Rishi Sunak said on Tuesday and added that they will soon be making an announcement on support for the airline sector.

Regarding government aid for self-employed, Sunak noted that it's incredibly complicated to develop an analogous scheme to these type of workers. "We are not favour of a universal basic income," Sunak added. "Measure for self-employed will need a brand new system."

Market reaction

These comments were largely ignored by the market participants. As of writing, the GBP/USD pair was up 1.45% on the day at 1.1715 and the UK's FTSE 100 was adding 4.1%.