Autumn budget scrapped as coronavirus crisis engulfs the Treasury
The 2020 budget has been cancelled to allow the Chancellor Rishi Sunak to focus on his winter economic plans to replace the furlough scheme.
A source close to the Treasury said: “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. Giving people reassurance and businesses the help they need to get through this is uppermost in his mind.”
No specific date had been set but it was expected to take place in November.
The Treasury said in a statement: "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."
