Chancellor Rishi Sunak will today unveil the 2021 budget, laying out the government's spending plan in his annual statement.
It has already been revealed that the Chancellor has opted to extend the furlough scheme until the end of September, though the government's own contribution will actually reduce from July and employers will be asked to pay in alongside the taxpayer for the cost of furloughed employees.
The Budget reveal is set to also include details surrounding a planned extension to the stamp duty holiday, while also covering tax rises among other announcements.
These rises will be tailored around a three-point economic plan which is focused on financially helping people throughout the coronavirus pandemic, rectifying public finances and building the future economy.
What time is the Budget announcement?
The Chancellor is expected to unveil the Budget in the House of Commons at around 12.30pm on Wednesday, March 3.
His Budget speech will be aired on BBC News, Sky News while also being able to view on Parliament Live TV.
This will then be followed by a Downing Street press conference which usually takes place at 5pm.
What will Rishi Sunak say?
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Mr Sunak is also expected to reveal that the UK's Covid-19 vaccine roll-out scheme will receive a £1.65 billion boost in a bid to help it meet its deadline of offering the jab to every adult by July 31, while also announcing £5bn scheme to help High Street businesses reopen following the third national lockdown.
Reports suggest the Chancellor will use his chance at Wednesday’s Budget to vow to help businesses and individuals through the "challenging months ahead – and beyond".
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In the build-up the Budget reveal, Mr Sunak said: “Our Covid support schemes have been a lifeline to millions, protecting jobs and incomes across the UK.
“There's now light at the end of the tunnel with a roadmap for reopening, so it’s only right that we continue to help business and individuals through the challenging months ahead – and beyond."
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