Chancellor must use his Winter Economic Plan to shift from phasing out to ramping back up support for firms and workers 23 September 2020 Commenting on the Chancellor’s announcement today (Wednesday) that he has cancelled an Autumn Budget and will instead set out a Winter Economic Plan tomorrow, Torsten Bell, Chief Executive of the Resolution Foundation, said: “With the Prime Minister having ramped up restrictions to control the spread of the virus, it’s right that the Chancellor now shifts from phasing out to ramping back up support for firms and workers. He should apply the same ambition and creativity that marked his response to the initial phase of the crisis, while acknowledging that policy over the next six months will need to be very different to the last six months. “Support should prioritise tackling unemployment by replacing furlough with a scheme that spreads work out through subsidised shorter-hours employment. Targeted help for firms directly affected by the new restrictions, such as pubs and restaurants, should include wage subsidies and fresh business grants.”
