Chancellor to revamp support for jobs and economy owing to tightening of restrictions

Rishi Sunak has scrapped his plan for an autumn budget and will announce fresh measures to halt job losses and business failures on Thursday 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 annual set-piece event must be shelved in order for the Treasury to be able to focus on avoiding a short-term economic crisis.

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