The Chancellor has postponed his November Budget until next year amid the financial turmoil created by the pandemic, but today will announce how a replacement for the furlough scheme will form part of a new economic rescue package. Rishi Sunak is expected to announce a wage subsidy scheme for people only able to work part-time, along with an extension to four different lending schemes. These should help keep credit flowing to businesses hit by the fallout from the virus, while companies could be given more time to pay VAT and other tax bills. The FT reports that the CBI, the TUC and Acas have issued a joint call to businesses to “exhaust all possible alternatives” before making redundancies, but if they became inevitable, to treat workers fairly.
Read more: Daily Mail