Chancellor Rishi Sunak is to make an announcement on Thursday outlining his plans to prevent a “tsunami” of job losses this winter.
It is expected that Sunak will ask taxpayers to subsidise the wages of workers who are returning back to the workplace part time after being furloughed.
It is thought the dramatic move will also see the Chancellor put in place VAT cuts with more cheap loans to help businesses which are struggling.
The Treasury announced on Wednesday that the autumn budget is now scrapped, instead the Chancellor will announce his launch of the “Winter Economy Plan” following calls from MPs and unions that there will be a “tsunami” of severe job losses.
Health Secretary Matt Hancock told Sky News, that Ministers have given “enormous” help to workers since the crisis started to keep jobs going.
He added, “And we’re determined that will continue.
“Without revealing what Rishi Sunak is actually planning.
“Our whole strategy is to suppress the virus while protecting education and the economy.”
Is it all just in the nick of the time given the furlough scheme is due to end soon?
Hancock warned that not every job will be protected, but there’s been planning to boost the winter economy “since the summer.”
He said, “We’ll support as much as feasibly possible people through these difficult times.”
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