Latest: The Treasury scraps the Autumn Budget to focus on pandemic
The Treasury has announced that it is to postpone the Autumn Budget in order to focus on its response to the coronavirus pandemic.
This announcement has come following speculation that the Chancellor would not proceed with the Budget due to the ongoing economic uncertainty and the rising number of coronavirus cases in the UK.
Instead he will today announce fresh measures to halt job losses and business failures, amid government fears that a second wave of Covid-19 threatens Britain with a double-dip recession.
The Chancellor has decided that the long-term decisions that would have featured in the Autumn Budget must be shelved so the Treasury are able to focus on avoiding a short-term economic crisis.
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