Government's Plan For Jobs To Support The Economy
On 8 July 2020, the Chancellor announced a package of measures to support the UK’s economic recovery. Cobweb Information reported the measures will include:
Job retention and creation
• Employers will receive a one-off payment of £1,000 for every furloughed employee who remains continuously employed until the end of January 2021.
• The £2 billion Kickstart Scheme will provide six-month work placements for young people aged 16-24 who are on Universal Credit.
• Employers in England will receive £2,000 for every new apprentice they hire up to age 24, and £1,500 for each new apprentice aged 25 and over.
Skills and training
• An additional £111 million will fund traineeships for 16-24-year-olds in England.
• An additional £17 million will be provided to increase the number of sector-based work academy placements in England.
• The National Careers Service will receive an additional £32 million over the next two years.
Hospitality and tourism
• The Eat Out to Help Out scheme will enable food service establishments to provide customers with a 50% discount of up to £10 per head on meals throughout August 2020. The Government will reimburse the 50% discount.
• VAT will be reduced from 20% to 5% on food and non-alcoholic drinks sold in food service establishments and on tourist accommodation and admission to attractions across the UK from 15 July 2020 to 12 January 2021.
Housing and construction
• House buyers in England and Northern Ireland will pay no stamp duty on residential properties worth up to £500,000 until 31 March 2021.
• A £2 billion Green Homes Grant will provide homeowners and landlords with grants to make their homes more energy efficient.
• The Construction Talent Retention Scheme will help retain construction skills and match talented workers who are at risk of redundancy with other job opportunities.
To read the plan in full, go to:
https://www.gov.uk/government/publications/a-plan-for-jobs-documents