The Chancellor has unveiled our Plan for Jobs, worth up to £30 billion, to protect, create and support jobs as our economy starts to recover.
- Throughout the coronavirus pandemic, we have put in place a £160 billion plan – one of the largest and most comprehensive in the world – which analysis shows has significantly protected people’s jobs, incomes and businesses.
- Our Plan for Jobs - a package worth up to an extra £30 billion - is about supporting people to find the jobs that are out there, creating new jobs through investing in our infrastructure and housing, and finally protecting jobs by revitalising the hard-hit sectors upon which many jobs depend.
- The first phase of our plan was about protection. It is now time to focus on jobs, and there will be a Budget and Spending Review in the autumn for rebuilding.
We are introducing new, unprecedented measures to protect millions of jobs in the hardest-hit industries upon which so many jobs depend.
- Front and centre of our economic response has been the Coronavirus Job Retention Scheme – but it cannot and should not go on forever.
- So we are introducing new measures to protect millions of jobs. We will reward and incentivise employers who successfully bring back furloughed staff with a Jobs Retention Bonus Scheme, a £1,000 bonus for every previously furloughed employee kept on continuously until January.
- For the hard-hit tourism and hospitality sectors, we are temporarily cutting VAT to 5 per cent until 12 January 2021. And we’re launching a new Eat Out to Help Out scheme, giving people 50 per cent off meals out from Monday to Wednesday in August, to encourage people back into pubs, cafes and restaurants.
- These measures will help revitalise important sectors for our economy, and protect millions of people’s jobs. Guidance for businesses will be published next week.
We are doubling down on our ambitions to level up, invest in infrastructure and create new jobs, while helping to deliver on our ambitious climate change targets.
- This crisis will not deter us from delivering the change in our country we have promised. We have committed to level up, invest in infrastructure and create jobs in all four corners of our country.
- From today until March next year, we are temporarily scrapping stamp duty on all homes under £500,000 to catalyse the housing market and boost confidence. This will mean 90 per cent of people will pay no stamp duty at all – an average saving of £4,500.
- We are providing a £3 billion green investment package to drive forward green home improvements, decarbonise buildings and create thousands of jobs – helping to kickstart our eco-friendly economic recovery, and reducing energy bills by an average of £200 for some of the poorest households in society.
- Together, these measures will drive growth, save people hundreds of pounds on their energy bills, help meet our goal of Net Zero by 2050, and above all create the jobs that people need.
We are supporting people to find the jobs that are out there, with the most ambitious package for youth employment delivered by any government ever.
- We know that young people will be hardest hit by this crisis, and we are determined to provide support to give them the best possible chance of getting on and getting a job.
- Our £2 billion Kickstart Scheme will pay businesses to create hundreds of thousands new, decent and high-quality jobs for 16-24 year olds, covering 100 per cent of National Minimum Wage for 25 hours a week for six months – a grant of around £6,500 per placement.
- The Government will pay businesses £1,000 to take on Trainees, with triple the number of places there are now, and we will provide £2,000 to employers for each new apprentice they hire under the age of 25.
- We will expand the National Careers Service to help more young people find work or training, double the number of work coaches, level up the skills of school leavers, and create triple the number of places in Sector-Based Work Academies.
- We are investing an extra £1 billion to support millions of people back to work, and we will offer a guaranteed foundation of support to all young people on Universal Credit with a new Youth Offer, including 13 weeks of intensive support.
- These measures will get young people ready for work, while developing key skills they need to succeed. They are underlined by an Opportunity Guarantee, so every young person has the chance of an apprenticeship or an in-work placement.