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Sunak axes budget in scramble for urgent measures to save jobs

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

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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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