AT A GLANCE, SUNAK’S STRATEGY
EMPLOYMENT
The furlough scheme will end in October, the Chancellor confirmed
A ‘Jobs Retention Bonus’: employers who bring back furloughed staff and continuously employ them through to January will receive a £1,000 bonus per employee as long as they are paid at least £520 on average a month
Employers paid £1,000 to take on trainees and up to £2,000 to hire young apprentices. Will provide 30,000 new traineeships
New ‘kick-start’ scheme to directly pay employers to create ‘decent’ new jobs for any 16 to 24year-old at risk of long-term unemployment. Doubling of front-line staff at job centres
ENVIRONMENT
A new £2billion ‘green homes grant’ in England to help homeowners and landlords with vouchers to make their properties more energy efficient.
Homeowners will get vouchers of up to £5,000, covering two thirds of the cost; with the poorest getting up to £10,000 The scheme will cover insulation and double glazing
HOSPITALITY
VAT cut on food, accommodation and attractions from 20 per cent to 5 per cent from July 15 to January 12
A new ‘Eat Out to Help Out’ discount to get customers back into restaurants, cafes and pubs
Meals eaten at any participating business from Monday to Wednesday during August will be 50 per cent cheaper, up to a maximum discount of £10 per head for everyone
Businesses can then claim the money back, with the funds in their bank account within five working days
HOME BUYERS
Effective immediately, stamp duty abolished in England on transactions below £500,000 until March 31, 2021
The average stamp duty bill will fall by £4,500 as a result and nearly nine out of 10 people buying a main home this year will pay none at all People buying second homes and buy-to-lets will also benefit