Rishi Sunak will unveil his multi-billion pound “winter economy plan” to the Commons at 12.30pm, cancelling the budget and announcing a new wage-subsidy scheme that he hopes will stave off mass unemployment at Christmas. 1.
Is it a sudden move?The 5.30pm announcement on Wednesday that the budget has been cancelled certainly raised eyebrows.A budget was due in November but the uncertainty of covid makes it difficult to plan.But the end of furlough wage support scheme at the end of October combined with this week’s announcement of Lockdown II, restrictions that will last six months, left the Treasury come under tremendous pressure to say what will replace the scheme that has supported the wages of nine million workers. 2.
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