British Chancellor Rishi Sunak launches job retention bonus
Rishi Sunak told MPs in the House of Commmons today that if you are an employer and you bring some back who was furloughed and you continue to employ them to January the government will pay you a £1,000 bonus.
“The employee must be paid £520 each month through to January,” he said.
“This would be a £9bn policy to retain people in work.
“If you stand by your workers, we will stand by you.”
“The Kickstart Scheme will directly pay employers to create new jobs for any 16 to 24-year-old at risk of long-term unemployment,” he said.
“These will be decent jobs – with a minimum of 25 hours per week paid at least the National Minimum Wage.
“I urge every employer big or small to hire as many kickstarters as possible.”
He also announced that the British government will give everyone 50% off meals in participating restaurants during August.
He says the discount will go up to £10 per head for adults and children, and apply Monday to Wednesday.
He says the scheme will help people “Eat Out to Help Out” the hospitality sector.
The Chancellor also announced a VAT cut for the hospitality sector.
Rishi Sunak says the hospitality sector has been particularly badly hit.
He therefore promises to cut VAT on food, accommodation and attractions.
“VAT will be reduced, from next Wednesday until January 12th, from 20% to 5%,” he says.
Mr Sunak said he wanted to see pubs, restaurants, cafes and B&Bs “bustling again”.
In a bid to boost the housin market, the chancellor announceed a temporary holiday on stamp duty on the first £500,000 of all property sales in England and the North of Ireland, to run until 31 March next year.
He says the change will take place immediately.
The levy is paid on land or property sold for £125,000 or more – although first-time buyers pay no tax up to £300,000.
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