BUSINESS Secretary Alok Sharma has warned UK banks against unfairly refusing funds to firms struggling financially due to the Covid-19 crisis.

He spoke while leading the Government’s daily briefing and reminded institutions of the support they were given during the financial crash on 2008.

Mr Sharma confirmed the Chancellor, the Bank of England and the Financial Conduct Authority have written to chief executives of UK banks to urge them to make sure the benefits of the Covid Business Interruption Loan Scheme are "passed through to businesses and consumers".

He said: “It would be completely unacceptable if any banks were unfairly refusing funds to good business in financial difficulty.

"Just as the taxpayer stepped in to help the banks back in 2008, we will work with the banks to do everything they can to repay that favour and support the businesses and people of the United Kingdom in their time of need."

Mr Sharma said, from today, businesses will start benefitting from £22bn in the form of business rates relief and grants of up to £25,000.

Local authorities have received more than £12bn and have been instructed that the money must reach businesses as quickly as possible.

"High street banks are working very hard to help through this period, including through mortgage holidays and increased credit facilities.

Mr Sharma said: “There are thousands of businesses, large and small, which have worked with staff to ensure they are supported for the days and weeks ahead.

“Whether that is ensuring PHE guidelines are followed on site, implementing furlough schemes, carrying over annual leave or providing the means to work from home.

“I want to convey my heartfelt thanks to all of those businesses up and down the country who keep our economy going so when this passes, and it will, we are ready to bounce back.

“Our businesses are doing all that they can to support our people and I want to make it clear our Government will do all it can to support our businesses.”

Mr Sharma also confirmed 152,979 people in the UK have now been tested.

Of those 29,474 have tested positive.

The number admitted to hospital in England with symptoms 10,767, whilst 3,915 of those are in London and 1,918 in the Midlands.

Of those hospitalised in the UK, 2,352 have died.

The youngest was just 13 years old.

He said: “All of our thoughts and prayers are with the families and loved ones of those who have lost their lives. This is more tragic evidence that this virus does not discriminate.

“The coronavirus pandemic is the biggest threat our country has faced in decades and we are not alone.

“All over the world we are seeing the devastating impact of this invisible killer.

“We recognise the extreme disruption, the necessary action we are asking people to take are having on their lives, businesses and jobs, and the nation’s economy.

“I want to thank everyone across our whole country for the huge effort that is putting in collectively into tackling the Covid-19 pandemic.”

Mr Sharma warned a "dangerous" second peak of cases could develop if the social distancing measures imposed by the Government were lifted too early.

He said: "People will understand across the country why we have put these restrictions in place and the Prime Minister was very clear they were for an initial three-week period and we would review them.

"But what's also really important is that if we stop these too quickly, there is a possibility that that massive effort people have made across the country is wasted and we could potentially see a dangerous second peak.

"We absolutely want to avoid that."

Professor Yvonne Doyle, medical director of Public Health England, added: "I think it is important to say we are looking at this through the scientific lens, as well as through modelling and through the information we are getting through clinical cases as to how this epidemic is progressing.

"We will be guided by that. We obviously want to make the right call at the right time on this and it is something that we have to keep reviewing every week."