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UK Government axes Autumn Budget

The Treasury has cancelled this year’s Autumn Budget as a result of the COVID-19 pandemic.

Autumn Budget 2020 was set to take place in November, but was postponed just days after new restrictions were imposed on the UK to try and stop a second wave of coronavirus.

Instead, Chancellor Rishi Sunak announced he will set out a fresh round of job support measures as the coronavirus crisis continues.

Various reports suggest a scheme modelled on one in Germany is in the pipeline, where taxpayers subsidise the wages of workers returning to part-time employment after being furloughed.

In a tweet, Sunak said:

“As our response to coronavirus adapts, tomorrow afternoon, I will update the House of Commons on our plans to continue protecting jobs through the winter.”

Kate Nicholls, chief executive of UKHospitality, responded:

“With significant additional restrictions on hospitality and many businesses fully closed by law, it is vital this is not a one-size-fits-all subsidy and proportion of wages covered flexes to take account of restrictions. Hospitality workers are substantially worse off."