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posted on July 8, 2020
The Chancellor, Rishi Sunak continued with his campaign to support the business and jobs community today, 8 July 2020, as firms engage with the disruption caused by the coronavirus outbreak and the measures taken to control infection. The main thrust of his announcements during his Summer Statement concerned his nominated Plan for Jobs 2020, details are listed below. In the Summer Statement he also announced measures to support the hospitality and tourism industry including a novel voucher scheme and a temporary reduction in VAT. Again, details are provided in the following update. In an attempt to boost the flagging property market Stamp Duty is being temporarily reduced in England and Northern Ireland. Separate announcements on this topic are awaited for Scotland and Wales who have their own Stamp Duty regimes. Details of the announcements in the Summer Statement follow:
As we manage the cautious steps to emerge from lock-down, still wary of COVID-19, the new incentives announced by Rishi Sunak today in the Summer Statement will be welcomed. As more details emerge on the various schemes announced today we will keep you updated.