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Summer Statement Stimulus

Rishi Sunak

Stephen Brown

Rishi Sunak delivered the UK Government's latest economic stimulus to help the post-covid recovery. Highlights including:

  • Confirmation Furlough/CJRS to end as currently planned on 31st October 2020
  • Jobs Retention Bonus of £1000 per employee brought back from furlough and retained until January 2021
  • Kick start Programme to encourage employers to hire 16-24 years olds with minimum wages paid for 6 months (employers to apply)
  • £1000 grant for hiring new trainees at NVQ level 2 & 3
  • £2000 per apprentice hired (£1500 if over 25)
  • Green Homes Grant of £5000 per household for energy saving and upto £10,000 per household depending upon means test
  • Increase in stamp duty threshold to £500k from nopw until 31st March 2021
  • VAT cut to 5% on food/accomodation/attractions
  • Eat Out To Help Out - 50% off meals upto £10 per person, Monday to Wednesday during August, reclaimed by registered venue
The economy continues it's stuttery recovery but the darkest days are hopefully behind us and with household consumption being a key economic driver, we look forward to an ever improving situation.
Many manufacturing clients and distributors of durable goods are now seeing resourcing and capacity planning as critical issues in the near to middle distance.
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