Image caption Chancellor Rishi Sunak's new Job Support Scheme features on the majority of Friday's front pages. Set to replace furlough, the scheme will see the government top up the pay of people unable to work full time. It aims to stop mass job cuts after the government introduced new measures to tackle a rise in coronavirus cases. The i newspaper reports workers will be able to get 77% of their wages for working one-third of their hours.

Image caption The Daily Mail highlights the chancellor's call to the nation to learn to live with coronavirus "without fear". Speaking in the House of Commons on Thursday, Mr Sunak said people must "learn to live" with coronavirus. "Our lives can no longer be put on hold," he said. The Mail praises Mr Sunak for saying "what so many have been thinking".

Image caption "Radical Rishi" is the Metro's headline, after the chancellor's announcement. The Job Support Scheme will begin on 1 November and last for six months. Mr Sunak described the scheme as a "radical new policy", designed "to help protect as many jobs as possible [and] keep people in part-time work rather than laying them off".

Image caption And the Daily Express dubs the chancellor "Houdini", as it calls his proposals to bolster the economy a "£5bn escape plan".

Image caption Elsewhere, reports on the chancellor's announcement are less optimistic. The Financial Times leads with Mr Sunak's warning that he "cannot save every business" and "cannot save every job". The paper says the plan shifts the burden of supporting jobs affected by the pandemic from the taxpayer to the employer, and cites the Institute for Fiscal Studies think-tank, which says many jobs will be lost in the coming months.

Image caption The Times says Britain is facing "a wave of redundancies" following the end of the furlough scheme. Mr Sunak has warned there will need to be a "more permanent adjustment" to the economy, and suggested that in the long term tax rises will be needed to balance the books, says the paper.

Image caption The Daily Telegraph reports the chancellor gave employers a "harsh reality check" while announcing the new scheme. According to the paper, unemployment stands at 4.1%, but the Office for Budget Responsibility has estimated it could peak at 13.2% next year - meaning four million people would be out of work.

Image caption The Guardian also leads with warnings of rising unemployment, and says economists have estimated the cost of the chancellor's package could come to about £5bn.

Image caption Meanwhile, the Daily Mirror declares Mr Sunak's package is "too little too late" and reports growing fears it is "not enough to protect millions of workers". Unions and experts have criticised the scheme, according to the paper. It quotes Len McCluskey of the Unite union warning it "could see millions more facing poverty and joblessness in coming weeks".

Image caption Finally, the Daily Star claims supermarkets are experiencing "groundbog day" amid a resurgence of panic buying. Picturing a woman with a trolley laden with toilet roll, the paper says shops are rationing the product amid the ongoing pandemic.

The front pages all focus on the government's new measures to support jobs when the furlough scheme ends next month, with mixed views.

The Express likens Chancellor Rishi Sunak to Harry Houdini, hailing his "daring £5bn escape plan", but the Mirror suggests millions could be out of work by Christmas - describing the package as "too little, too late".

The Times says Britain is facing a wave of redundancies after Mr Sunak conceded he could not save every job, while the Telegraph's headline highlights the chancellor's warning that the UK needs to "face up to the hard choices".

The Guardian reports that Mr Sunak refused to speculate on how high unemployment would go, as he admitted the economy was undergoing a "permanent adjustment" caused by the pandemic.

Image copyright PA Media

The Sun is impressed by the chancellor's "tenacious commitment" to saving jobs, but warns he is fighting a losing battle against economic reality.