Temporary cut to VAT on food, accommodation and attractions from 20% to 5% is announced

Rishi Sunak says while the government has taken “decisive action to protect our economy”

Rishi Sunak Weds 8th July 2020
  1. Plans include a new £2bn scheme to create thousands of job placements for young people
  2. The chancellor announces a temporary change to stamp duty – immediately increasing the threshold to £500,000
  3. Temporary cut to VAT on food, accommodation and attractions from 20% to 5% is announced
  4. Chancellor announces new job retention bonus for employers who bring back furloughed staff
  5. But Labour says the chancellor has “put off big decisions” and should have announced a “back to work Budget”
  6. A £2bn “green homes grant” to help make homes more energy efficient is also unveiled

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