British Government Earmarks £ 30 Billion for Economy and Jobs
The British Government is proposing aid measures worth £ 30 billion, to maintain employment in the UK.
Employers can count on, among other things, a bonus per employee who will return to work after temporary unemployment. London is also cutting VAT for the tourism sector and hotels, Finance Minister Rishi Sunak announced.
Sunak outlined plans for the British parliament for economic recovery after the corona crisis. In April, the British economy shrank by a fifth. Creating and maintaining jobs is now the primary goal for the Government, Sunak said.
Approximately 9 million British people are now at home through a temporary unemployment program, in which a large part of their salary is paid with the help of the Government. That support can’t go on forever, Sunak warned.
For every employee who can return to work, employers receive £ 1000 under certain conditions. “Our message to companies is clear. If you support your employees, we support you.” Sunak also allocates £ 2 billion to create jobs for young people at high risk of prolonged unemployment.
On the fiscal level, Sunak also comes with interventions. More houses are exempt from transfer tax. In addition, the VAT on overnight stays in hotels, campsites or bed and breakfasts decreases. The same goes for takeaway from restaurants or pubs.