The man responsible for the U.K.’s taxation and spending policies laid out plans for the uncertain year ahead on Wednesday, announcing an extension of the country’s furlough pay program as well as additional support for the beleaguered economy.
Usually filled with pomp, circumstance and an iconic red briefcase, this year’s budget came as U.K. Chancellor of the Exchequer Rishi Sunak faced the highest unemployment rate in almost five years and a deficit approaching 400 billion pounds ($557 billion). That made it one of the most consequential budget announcements for British households in recent memory.
“We will recover,” Sunak said before Parliament.
What does the budget...