PLANS for an Autumn Budget have been scrapped this year because of the coronavirus pandemic.

The UK Treasury said "now is not the right time" for the finance plans.

The statement said: "As we heard this week, now is not the right time to outline long-term plans - people want to see us focused on the here and now.

"So we are confirming today that there will be no Budget this autumn."

READ MORE: Coronavirus: Kate Forbes criticises 'irony' of Tories scrapping Autumn Budget

The Financial Times said last week that if the Budget was postponed Chancellor Rishi Sunak would probably still deliver a “mini-spending review” this autumn.

Sunak is expected to announce an extension of the furlough scheme in some form tomorrow.

READ MORE: Rishi Sunak: Furlough announcement is coming tomorrow afternoon

Taking to Twitter, Sunak wrote: "As our response to coronavirus adapts, tomorrow afternoon I will update the House of Commons on our plans to continue protecting jobs through the winter."

The Conservative Chancellor of the Exchequer is expected to announce an extension of the furlough scheme in some form, after mounting pressure from politicians including Blackford, Scottish Economy Secretary Fiona Hyslop, and Citizens Advice Scotland.

WATCH: Ian Blackford has the perfect response to Boris Johnson on furlough scheme

Yesterday, The Guardian reported that Sunak was weighing up a German-style wage subsidy scheme to replace the furlough through the winter.

Under those proposals, companies would pay staff for the time they are at work, while the Treasury would cover part of their wages for time when they have no work.