Chancellor Rishi Sunak has vowed to “do whatever it takes” to support the economy after promising £330bn of business loans during the coronavirus pandemic.
The government also unveiled cash grants of £25,000 to help pubs, restaurants and shops who face closure after Boris Johnson urged the public to stay at home.
Health secretary Matt Hancock also unveiled details of emergency legislation which gives police power to detain people and place them in isolation.
As the UK death toll rose to 71, the country’s top scientific adviser said Coronavirus may have already infected 55,000 people and the foreign secretary warned Britons against travelling outside the country.
In the US, where entire states have closed public schools and ordered venues to shut, Donald Trump said the “new normal” may last until August.
And in Europe, officials have unveiled plans to block the non-essential entry of all foreign nationals for a 30-day period in the face of “huge pressure” on healthcare systems. France’s Emmanuel Macron has instituted what he called an unprecedented peacetime clampdown, restricting movement for 15 days and telling citizens: “You will no longer be able to see your loved ones or continue your daily routine.”
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The coronavirus bill gives the government, police and immigration officers extra powers in a bid to reduce the risk of infection spreading quickly.
It reads: "The bill will enable the police and immigration officers to detain a person, for a limited period, who is, or may be, infectious and to take them to a suitable place to enable screening and assessment."
Further measures include:
1) allowing the government to restrict or prohibit events and gatherings during the pandemic in any place, vehicle, train, vessel or aircraft, any movable structure and any offshore installation and, where necessary, to close premises
2) providing a temporary power to close educational establishments or childcare providers
3) postponing the local, mayoral and Police and Crime Commissioner elections that were due to take place in England in May this year until May 2021, as well as any other elections this year.
Here's some more detail on the coronavirus bill proposals for sick pay.
It anticipates a significant increase in the number of people off work, including those who are self-isolating as a precaution.
"We want to ensure the Statutory Sick Pay (SSP) provisions support people in complying with this request and that they have retrospective effect from 13 March 2020," the government statement reads.
"By ensuring that people receive SSP from the first day that they are off work, we will ensure that those who are unwell or have been instructed to self-isolate can do so without the fear of losing pay. This will be an important measure in the event of a severe outbreak. By refunding small businesses, we hope to alleviate the significant financial burden on employers through increased SSP costs."
At present sick pay only comes in after the third day off work.
Police to get new powers to arrest people under emergency coronavirus law
Police will be given powers to arrest people in order to protect public health under emergency coronavirus legislation published by the Government.
The Emergency Coronavirus Bill also allows for more phone or video hearings in court cases to stop the spread of the virus in the court system.
It will enable recently retired NHS and social care staff to return to work without any negative repercussions or their pensions.
It also allows for statutory sick pay to be paid to those self-isolating from day one, with small businesses able to claim them back from HM Revenue and Customs.
Health Secretary Matt Hancock said: "The Emergency Coronavirus Bill this week will only be used when it is absolutely necessary and must be timed to maximise their effectiveness, but crucially they give the government the powers it needs to protect lives."
Here is a link to the details of the bill on the government website.
Tesco is set to reduce the hours for hundreds of stores from Tuesday night as it copes with the fallout from the coronavirus pandemic, according to Press Association.
They will now open only between 6am and 10pm.
Staff were informed of the changes on Tuesday afternoon. It is unclear at the moment how it will effect workers' shifts or wages. Tesco has refused to comment.
Panic-buying 'getting worse', say supermarkets
Boris Johnson's appeal for calm does not appear to have worked so far, as shelves and frozen food aisles continue to be stripped bare.
"It's getting worse," a source at one of Britain's major supermarket groups told Reuters news agency, while a second at a different group commented: "The level of panic buying is definitely not getting any better."
Trading levels have been close to those only usually seen at Christmas, the busiest time of the year, and online grocery operations are running at full capacity.
Queues at Ocado are lengthening, with many customers unable to book delivery slots, as we reported earlier today:

Shoppers ‘queue’ for home deliveries as supermarket panic-buying moves online
Customers unable to book delivery slots for weeksBoris Johnson’s father has said he will still go to the pub despite official government advice to avoid non-essential contact due to the coronavirus pandemic.
The 79-year-old's comments came less than a day after his son, the prime minister, urged the British public to “avoid pubs, clubs, theatres and other such social venues” to slow the spread of Covid-19.

Boris Johnson's father says he will still go to pub despite government’s coronavirus advice
Stanley Johnson's comments came less than 24 hours after his son urged British public to 'avoid pubs, clubs, theatres and other social venues'The government has so far resisted pressure to close schools - but headteachers aren't convinced.
Some schools are struggling to find any supply teachers to cover lessons amid staff shortages, while headteachers are having to cope with more families withdrawing their children.

Keeping schools open becoming ‘increasingly untenable’ as staff self-isolate, say headteachers
Lack of government advice is creating ‘chaos and confusion’, teaching union saysBoris Johnson sought to reassure the public about the increasingly empty shelves at supermarkets across the UK.
He said: "We're absolutely confident that our supply chains are working and will work ,and that we will get farm to fork food supplies for this country.
"Therefore, people should have no need to stockpile or to panic-buy.''
Schools have begun making preparations for prioritising the attendance of children of key workers if they are forced to close as the coronavirus pandemic worsens.
School surveys have been sent to parents to identify whether they work in the emergency services, such as the NHS, so they can help support them in the event of wider closures, The Independent understands.

Plans made to look after children of workers key to fighting coronavirus pandemic if schools close
Teachers will be willing to help 'society get through this crisis,' union bosses sayHe ignores a question about his reported "Operation Last Gasp" joke about his plan to ramp up production of intensive care ventilators.
The Chancellor said he will announce further measures to support the public in the near future.
He said: "In the coming days I will go much further to support people's financial security.
"In particular, I will work with trade unions and business groups to urgently develop new forms of employment support to help protect people's jobs and their incomes through this period."
Asked if individuals and businesses would lose out while the Government put the finishing touches on support measures, Mr Johnson said: "Be in no doubt that the state is asking people to do something, to make very considerable changes to their lives, and it is only right therefore that the state should stand behind people as they make those changes.
"And that's what a government, that's what a society is there to do.
"It's there to look after people through thick and thin and to make sure that we get through this together and that's what we're going to do."
Chancellor Rishi Sunak says the UK government will support jobs, incomes and businesses during the coronavirus pandemic.
He repeats the prime minister's words about doing "whatever it takes".
2) Cash grants of up to £25,000 for businesses in retail, hospitality or leisure centre industries.
3) Three-month mortgage holiday to help those who would struggle to make payments.

Government offers £330 billion in loans to help businesses battle coronavirus slowdown
Chancellor Rishi Sunak has announced a package of £330 billion worth of government-backed loans to help business get through the coronavirus crisis. More follows…Covid-19 is so dangerous that without drastic action it will "overwhelm the NHS", Prime Minister Boris Johnson said as he warned that more "extreme measures" may be needed to protect lives in the future.
"This enemy is deadly.. but we will beat it," he adds. "This government will do whatever it takes".
The prime minister's second daily briefing has begun - watch it live here:
Nazanin Zaghari-Ratcliffe has been temporarily released from jail by the government in Tehran because of the coronavirus outbreak.
Her husband confirmed she had been released into the care of her family for two weeks.
Foreign Secretary Dominic Raab said: "I am relieved that Mrs Zaghari-Ratcliffe was today temporarily released into the care of her family in Iran.
"We urge the regime to ensure she receives any necessary medical care.
"While this is a welcome step, we urge the government now to release all UK dual nationals arbitrarily detained in Iran, and enable them to return to their families in the UK."

Nazanin Zaghari-Ratcliffe temporarily released from Iran prison due to coronavirus outbreak
British-Iranian mother among thousands of prisoners released from prisonA further 14 people in the UK have died after being diagnosed with coronavirus, bringing the total to 71.
A statement from NHS England said: "A further 14 people, who tested positive for the Coronavirus (Covid-19) have died, bringing the total number of confirmed reported deaths in England to 67.
Patients were aged between 93 and 45 years old and had underlying health conditions.
"Their families have been informed."
As of 9am on 17 March 2020, 50,442 people have been tested in the UK, of which 48,492 were confirmed negative and 1,950 were confirmed as positive.

UK coronavirus death toll rises to 71
A further 14 people have died after being diagnosed with coronavirus in England, the Department of Health said, bringing the death toll in the UK to 71. More follows…Center Parcs has said it is closing all its UK villages from Friday.
"In light of the latest government advice regarding coronavirus, the decision has been taken to close all of our UK villages from 20 Mar - 16 April 2020," the company said in a statement.
"If you are due to visit during the above closure period we will shortly send you a text and email outlining the options available. We will continue to update our website with our latest stance.
"We recognise that this will be disappointing news for many of our guests and we would like to thank you for your patience and understanding in these exceptional circumstances."
Center Parcs operates five villages in the UK: Sherwood Forest in Nottinghamshire; Elveden Forest in Suffolk; Longleat Forest in Wiltshire; Whinfell Forest in Cumbria and Woburn Forest in Bedfordshire.
Planes, trains and buses 'could be temporarily nationalised'
Airlines, railway operators, and bus companies could be temporarily nationalised to ensure transport keeps running during the coronavirus pandemic, the transport secretary has suggested.
Grant Shapps told MPs that the measure could prevent the firms from "going bust" during the Covid-19 outbreak.
The secretary of state told the Commons that in some cases the government's response would involve "organisations being run by the public sector".
