Wolverhampton North East MP Jane Stevenson has welcomed the Plan for Jobs set out by Chancellor Rishi Sunak on Wednesday 8th July, saying it provides much-needed support to businesses across Wolverhampton.
Since the start of the coronavirus pandemic, the Government has said that it will do whatever it takes to protect people and businesses from the immediate economic crisis.
As part of this, more than 10,500 jobs in Wolverhampton North East have been supported through the Coronavirus Job Retention Scheme, allowing employers to put workers on furlough while the Government supports their wages.
The Chancellor has now set out the second phase of the Government’s response, focusing on jobs: supporting people to find the jobs that are out there, creating new jobs through investing in infrastructure, and protecting jobs by revitalising the hard-hit sectors upon which many jobs depend.
Employers will be encouraged to retain staff who have been on the furlough scheme, with the Government paying a one-off bonus of £1,000 for every employee who was furloughed and who is kept on until January.
Also included in the Government’s £30 billion Plan for Jobs is:
- 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% 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
Following the Plan for Jobs, the Government will soon turn its attention to a third phase – a moment for rebuilding. The Chancellor will produce a Budget and Spending Review in the Autumn.
Jane said: “Throughout the coronavirus crisis, the Conservative Government has stood squarely behind people and businesses 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 Wolverhampton.
“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.”
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