Gedling MP Tom Randall has welcomed the Chancellor’s summer budget – with plans to protect jobs being announced.
In Parliament yesterday (July 8), Rishi Sunak announced a number of packages to aid the country’s economic recovery in the wake of the coronavirus pandemic, with a particular focus on employment.
MP Tom Randall hailed the latest government’s spending plan, which he said will ‘provide much-needed support to businesses across Gedling’.
The government aims to help create new jobs by making investments in infrastructure.
They will also encourage employees to retain staff who have been on the furlough scheme by paying a one-off bonus of £1,000 to firms for every employee they furloughed who is kept on until January.
Also included in the Government’s £30 billion Plan for Jobs:
- A temporary cut in VAT for the tourism and hospitality sectors, to give a much-needed boost to some of the industries hardest hit by coronavirus.
- A new Eat Out to Help Out Scheme, giving people up to 50 per cent off meals out at restaurants, pubs and cafes on Mondays, Tuesdays and Wednesdays in August.
- The temporary removal of stamp duty on all homes under £500,000 until the end of March 2021, to catalyse the housing market.
- A new Kickstart Scheme, which will create hundreds of thousands of new, fully-subsidised jobs for young people.
Mr Randall said the measures announced yesterday would provide a much-needed boost for borough residents and businesses.
He said: “Throughout the coronavirus crisis, the Conservative Government has stood squarely behind people and businesses across Gedling with one of the largest and most comprehensive packages of support anywhere in the world.
“As we turn our attention to carefully reopening our economy, it is right that the Chancellor is doing everything in his power to support, protect and create jobs. Our plan will be a lifeline for countless people and businesses across Gedling.
“By levelling up the whole country, we will give businesses the confidence to retain and hire, create jobs in every region and ensure young people have the opportunity of a better start.”