The Treasury has announced that the Autumn Budget will not go ahead this year due to the ongoing pandemic.
The statement said, “As we heard this week, now is not the right time to outline long-term plans – people want to see us focused on the here and now.
“So we are confirming today that there will be no Budget this autumn.”
A Treasury source told the BBC, “No-one wanted to be in this situation but we need to respond to it.
“The chancellor has shown he has been creative in the past and we hope that people will trust us to continue in that vein.”
The source said that “giving people reassurance and businesses the help they need,” was in the Chancellors “uppermost” mind.