Sunak’s gonna spend

The 1-minute read to get the money news you need.

Budget countdown

There are less than 2 weeks to go until chancellor Rishi Sunak’s March budget. He’d hoped to be talking about rebuilding the economy and paying down public debt. But now his plans are expected to focus on support measures for struggling sectors like hospitality. Sunak backs a cautious reopening of the economy - which probably means he will extend schemes like furlough and business loans.

And if he doesn’t

1 in 4 firms will have to let workers go if the furlough scheme isn’t extended beyond the end of April, according to the British Chambers of Commerce (BCC). 61% of BCC member businesses have suffered a fall in sales since October. They’re calling for support to continue until they can reopen and rebuild.

No promotions?

Remote working will cost workers in lower wages and fewer promotions, according to HR execs in top companies. Two thirds think employees will spend less time at the office - and many believe wages would be adjusted if workers’ living costs are lower. Some also said they thought promotions could be restricted for people who work solely from home.

GameStop lawsuits start

An investor who became a key figure in the GameStop saga last month is now facing a class action lawsuit. He used his YouTube channel to urge people to buy shares in the gaming company. He’s accused of market manipulation in the lawsuit filed by a guy who bought into GameStop shares.