Chancellor Rishi Sunak has announced a "plan for jobs" to stimulate Britain's battered economy.
Here are the key points:
EATING OUT DISCOUNT
- In August, everyone in the country will be given an "eat out to help out" discount – 50% off at participating restaurants, cafes and pubs. It applies for a maximum discount of £10 per head and can be used from Mondays to Wednesdays
- Businesses can claim the money back, with funds in their bank account within five working days
- The scheme, described as the first of its kind, is designed to help an industry employing 1.8 million people
VAT CUT
- VAT on food, accommodation and attractions will be cut for the next six months from 20% to 5% – a "£4bn catalyst" for the sector designed to protect 2.4 million jobs
- The cut – from next Wednesday until 12 January – covers food from restaurants, cafes and pubs, accommodation in hotels, B&Bs and caravan sites, and attractions such as cinemas, theme parks and zoos
STAMP DUTY HOLIDAY
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- The threshold for paying stamp duty will be raised temporarily from £125,000 to £500,000 until 31 March 2021, resulting in the average stamp duty bill falling by £4,500
- The measure, designed to boost confidence in the housing market after a slump in transactions, is expected to mean nearly nine out of ten people buying a main home this year paying no duty at all
WORK
- A jobs retention bonus will reward employers who bring back workers from furlough with £1,000 per employee – it will cost £9bn if all nine million of those temporarily laid off come back to work
- Government's furlough scheme "cannot and should not go on for ever" and will wind down through to October
- £1.2bn pledged to Department for Work and Pensions "to support millions of people back to work"
- Firms will be paid £1,000 to take on trainees, with £100m pledged to fund places in high-dRead More – Source
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