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Unconditional internal contract/promotion retracted due to COVID-19

Whist I am ever so grateful to still be in employment and that we're in very unusual times and could be far worse of than others so please rest assured I am extremely grateful to have my loved ones around me and to be alive furthermore, I am an active NHS responder whilst on furlough (spending my free time helping others rather than feeling sorry for myself : ) 
I have recently had an internal promotion/Salary increase retracted, this was after signing the new contract (over 6 weeks ago), also 2 weeks ago I wrote to HR to confirm that despite the current COVID situation would my position and pay remain as per the new contract which was to start in May - which I was told yes (currently on 80% furlough with no top up contributions). I have now been told that I will have to continue in existing role which has a lower salary due to the COVID situation. I have not contested this, but would like to know out of interest is this legally/morally acceptable? The role I was going to be leaving has not yet been filled. 
As mentioned could be a lot worse off, but I have borrowed money based on my new salary to make up the losses through furlough - hence why I confirmed the situation with HR before making the new financial arrangements.My initial thought would be if I did contest this, they could make my position redundant, but not so sure now as they have made an appointment elsewhere to an external person - same role and title, different location and this due to the person already resigning from current employer.  
Note: I am aware of the options that could be available in terms of financial support etc, but my question is more from a legal/moral perspective. 

Keep safe and thanks for any input. 
Best Wishes 
Tom
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