The U.K.'s Chancellor of the Exchequer Rishi Sunak is setting out his plan to rescue millions of jobs and businesses from a winter crisis as the coronavirus pandemic again threatens to derail the British economy.
In an emergency statement to Parliament, Britain’s finance minister began outlining his blueprint, which is likely to include subsidizing wages for workers who return to their jobs part time and offering loans to companies hit by COVID-19 restrictions.
Sunak scrapped his plan for a full-scale budget in a sign of the disruption and uncertainty the resurgent virus threatens to bring to the country. Prime Minister Boris Johnson imposed fresh curbs on the public earlier this week and warned further measures may be needed in what is likely to be six difficult months ahead.