The UK's Chancellor of the Exchequer Rishi Sunak cancelled plans for a full-scale Budget in November, with sources saying it was 'not the time' for a long-term plan. Instead he will map out an emergency 'Winter Economy Plan' today designed to help firms cope with new Covid restrictions which Boris Johnson has warned will last for six months. Whitehall sources last night said the Chancellor's plans would include a new wage subsidy scheme modelled on a German scheme that helps fund salaries at firms where there is only enough work to go back part-time. Mr Sunak is also expected to extend a number of cheap loan schemes for business. And the Prime Minister hinted yesterday there would be additional help for the self-employed. Ministers are also looking at a bailout scheme for struggling sports clubs hit by a ban on crowds. But Treasury sources said the Chancellor had rejected calls to extend the £35billion furlough scheme, despite warnings that its closure at the end of next month could result in more than one million redundancies. 'The Chancellor has shown he has been creative in the past and hopes that people will trust us to continue in that vein,' a source said. 'Giving people reassurance and businesses the help they need to get through this is uppermost in his mind.' Mr Sunak played a pivotal role in helping persuade Mr Johnson not to move to an immediate second lockdown this week.