Chancellor cuts VAT in emergency plan to save jobs

Chancellor Rishi Sunak is to cut VAT on hospitality as part of a £30bn plan to prevent mass unemployment as the economy is hit by coronavirus.

The government will also pay firms a £1,000 bonus for every staff member kept on for three months when the furlough scheme ends in October.

Mr Sunak also announced a scheme to give 50% off to people dining out in August.

As the UK enters the second phase in its recovery, the Chancellor’s plan is designed to support jobs by focussing on skills and young people, create jobs with investment in shovel-ready projects and greening our infrastructure, and protect jobs through a VAT cut for the hospitality sector and a landmark Eat Out to Help Out discount scheme for diners.

Read more on the UK Government website.

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