Employers promised £1,000 reward to bring furloughed workers back

Written by on 8th July 2020

Chancellor Rishi Sunak has announced the government’s latest plans to stimulate Britain’s battered economy.

Here are the key points:
:: In August, everyone in the country will be given an “eat out to help out” discount – 50% off up to a maximum discount of £10 per head at participating restaurants, cafes and pubs from Monday to Wednesday

:: VAT on hospitality and tourism will be cut for the next six months from 20% to 5% – a “£4bn catalyst” for the sector designed to protect 2.4 million jobs

:: The threshold for paying stamp duty will be raised temporarily from £125,000 to £500,000 until 31 March 2021, resulting in the average stamp duty bill falling by £4,500 and nearly nine out of ten people buying a main home this year paying no duty at all

:: Green measures totalling £3bn aim to make 650,000 homes more energy efficient, save households £300 a year on bills and support 140,000 jobs

:: There will be £1bn of funding to improve the energy efficiency of public sector buildings

:: A £2bn green homes grant will deliver vouchers to homeowners and landlords to make their homes more energy efficient

:: £1.2bn pledged to Department for Work and Pensions “to support millions of people back to work”

:: Firms will be paid £1,000 to take on trainees, with £100m pledged to fund places in high-demand sectors such as engineering, construction and social care

:: £2bn made available for “Kickstart” scheme for young people – and no cap on the number of places available

:: Kickstart scheme will pay employers to create new jobs for hundreds of thousands of 16-24 year olds at risk of long-term unemployment – a minimum of 25 hours per week paid at at least the national minimum wage

:: Jobs retention bonus will reward employers who bring back workers from furlough with £1,000 per employee – it will cost £9bn if all 9 million of those temporarily laid off come back to work

:: Government’s furlough scheme “cannot and should not go on for ever” and will wind down through to October

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