The Chancellor, Rishi Sunak, delivered the ‘Summer Economic Update’ - a new 'Plan for Jobs' as the Government continues to grapple with the economic fallout of the COVID-19 pandemic.
In an economic stimulus package totalling some £30 billion, the Chancellor unveiled a range of measures intended to prevent mass unemployment.
Headline announcements included:
- A new 'Job Retention Bonus' whereby firms will be paid £1,000 per employee they return to work when the furlough scheme draws to a close in October.
- The reduction of VAT to 5% for the hospitality sector.
- A temporary stamp duty cut.
- A "kickstart" work placement scheme and apprenticeship bonus
- A £2 billion green homes grant
Click the button below to read our summary of the key announcements, reaction and analysis of what may lie ahead.
The Summer Economic Update
Share this
MORE
INSIGHT
Fearless tactics to achieve your strategic success
As a consultancy, our full-funnel marketing and communications solutions are designed to fearlessly deliver business results across multiple industries and service areas.
