Chancellor Rishi Sunak will promise to use “fiscal firepower” to protect jobs and livelihoods when he unveils his Budget on Wednesday.
Mr Sunak is expected to set out a three-point economic plan focused on supporting people through the Covid-19 pandemic, fixing the public finances and building the future economy.
He will vow to do “whatever it takes” to help businesses and people through this “moment of crisis”, amid calls to extend the furlough scheme while lockdown measures remain in place.
The Chancellor will tell MPs: “We’re using the full measure of our fiscal firepower to protect the jobs and livelihoods of the British people.”
Mr Sunak is expected to add: “First, we will continue doing whatever it takes to support the British people and businesses through this moment of crisis.
“Second, once we are on the way to recovery, we will need to begin fixing the public finances – and I want to be honest today about our plans to do that.
“And, third, in today’s Budget we begin the work of building our future economy.”
On Tuesday, Mr Sunak held a virtual call with around 50 people who have been helped by the Government’s support schemes during the pandemic – such as furlough.
The Treasury said the Budget will build on the Government’s plan for jobs and the £280 billion package of support during the coronavirus crisis.
