The Chancellor Rishi Sunak today set out a ‘Plan for Jobs’ that will spur the UK’s recovery from the Coronavirus outbreak.
Delivering his Summer Economic Update in Parliament, the Chancellor announced a package of measures to support jobs in every part of the country, give businesses the confidence to retain and hire, and provide people with the tools they need to get better jobs.
The plan for jobs is the second part of a three-phase plan to secure the UK’s economic recovery from coronavirus. Throughout the pandemic, the UK Government has acted with speed to protect lives and safeguard jobs.
The first stage was a £160 billion support package, which included £49 billion of extra funding for the country’s vital public services including the NHS, paying the wages of nearly 12 million people and supporting over a million businesses through grants, loans and rates cuts.
The plans are summarised below:
🔷 No stamp duty on properties below £500k until Mar 2021
🔷 £2bn kickstart scheme to create jobs for 16-24 year olds
🔷 £2bn of green home grants
🔷 £1000 retention bonus to bring back furloughed workers
🔷Reducing VAT to 5% in tourism and hospitality sectors
🔷£900m to double the number of work coaches
🔷£2000 for every apprentice start under 25
🔷 £1500 for every apprentice start over 25
🔷£32m to recruit career advisers
🔷£111m to triple the scale of traineeships
🔷Triple the no of sector-based work academy placements
🔷 50% reduction in August up to £10 per head on sit-down meals and non-alcoholic drinks #EatOutToHelpOut