Chancellor Rishi Sunak is set to outline new plans to protect jobs this afternoon.
After cancelling the 2020 budget, Mr Sunak will instead address MPs in the House of Commons with his latest scheme to protect jobs amid the coronavirus pandemic.
In March the Chancellor introduced the furlough scheme, however this is due to come to an end in October and all appeals to extend it have been dismissed by the government.
The latest initiatives are likely to an extension to the business loans, VAT cuts and a Germany style wage subsidy scheme, Kurzarbeit.
Under the scheme, companies would pay workers’ wages for the time they are at work with the government covering the wages for the time when the company has no work for the employee.
It could see the Government and firms share the cost of topping up wages for employees only able to work part-time due to the pandemic.
