Rishi Sunak tells the Commons the furlough scheme “cannot and will not go on forever”
He says keeping it going too long would give people “false hope” they can return to work.
@LBC
NEW: Rishi Sunak announces a “job retention bonus”
If companies bring employees back from furlough, and keep them through to January, they will get £1,000 per employee.
@LBC
He says the scheme will be as big as necessary- if companies bring back all 9 million people currently on furlough the scheme could cost up to £9 billion.
The real question is, if your business is really struggling and you’re considering laying off staff, who cost let’s say average wage of £30k a year, is a £1,000 govt bonus going to make a blind bit of difference?
Sunak announces the pre-trailed “green homes grant” which will cover 2/3 of cost (up to £5,000) of certain home improvements.
NEW: Stamp duty cut. New threshold is £500,000 until March next year, effective immediately.
Means 9/10 people buying a home will pay no stamp duty at all.
Sunak announces a 15% VAT cut for the hospitality industry.
Will apply to food in restaurants, accommodation and attractions.
Well now. Sunak announces free food for the nation.
From Monday to Weds, food in any restaurant will be half price, up to £10 a head.
So won’t help much if you’re heading to the Ritz, but Nandos looking pretty cheap right now...
@LBC
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