The Chancellor will make a statement to the House on Wednesday 8 July. He will outline plans to support the economy. The Chancellor’s statement is being labelled as a ‘summer economic update’.
- 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
- A £2bn “green homes grant” to help make homes more energy efficient is also unveiled