Just four months after his first Budget, Chancellor Rishi Sunak has unveiled a summer economic update designed to mitigate the impact of the Covid-19 pandemic, with a commitment to encouraging job creation through a government ‘plan for jobs’ and stimulus for consumer spending
Announcing a package of measures, Sunak said the aim was to ‘give everyone the opportunity of good and secure work, so no one is left without hope.
‘Our plan for jobs has a clear goal – to protect, support and create jobs. We want to give business confidence to retain and hire.’
Coronavirus job retention bonus
Confirming that the coronavirus job retention scheme will be flexibly and gradually wound down through October, Sunak said the second phase of the economic recovery would focus on getting as many people as possible back from furlough and into jobs.
‘The economy contracted by 25% in two months, the same amount as it had grown over […]