“The government has stepped in again with a massive boost for Business.
It is a mini budget for jobs which will cost £2bn. Stamp duty is cut as is VAT.
Employers will also gain.”Nigel Holland
- Plans include a new £2bn scheme to create thousands of job placements for young people
- The chancellor announces a temporary change to stamp duty – immediately increasing the threshold to £500,000
- Temporary cut to VAT on food, accommodation and attractions from 20% to 5% is announced
- Chancellor announces new job retention bonus for employers who bring back furloughed staff
- But Labour says the chancellor has “put off big decisions” and should have announced a “back to work Budget”
- A £2bn “green homes grant” to help make homes more energy efficient is also unveiled