Rishi Sunak has announced a raft of new schemes to help boost the economy post-coronavirus.
The chancellor revealed a range of different measures, in a bid to create jobs.
Speaking to the House of Commons, Mr Sunak laid out the government’s economic plan, saying: “We will do all we can to give everyone the opportunity of good and secure work.”
Speaking about the furlough scheme, Mr Sunak said the scheme will not continue forever, and confirmed that it would wind down in October.
To get people back into their jobs, he announced a reward for employers who bring back workers from furlough, with a bonus of £1,000 for every person they bring back into the workplace.
The chancellor announced a kickstart scheme, which will pay employers to create new jobs for 18-24 year olds, with an emphasis on good quality jobs – the government will pay their wages for six months.
Mr Sunak also said there would be more funding for careers advisers, as well as more traineeships and apprenticeships – there will be a new £2,000 payment for firms who take on apprentices.
It was confirmed that £2bn would be spent on a new green homes grant, with an additional £1bn of funding to improve energy efficiency in public buildings – it’s predicted this will make 650,000 homes more energy efficient and save families £300 a year.
The chancellor slashed VAT for the tourism and hospitality sectors – on food, accommodation and attractions – from 20% to 5%, from next Wednesday up until January.
To get customers back into restaurants, cafes and pubs, Mr Sunak announced everyone in the country would be given 50% off meals and drinks for the whole of August, through a Eat Out to Help Out scheme.
Mr Sunak said: “So for the month of August we will give you a 50% reduction, up to £10 per head, on sit-down meals and non-alcoholic drinks Monday-Wednesday.”
While the full details are yet to be confirmed, it’s believed the government will cover the other half of the bill, up to £10 per head, including children, in a bid to help boost the hospitality industry.
You can find out more info here.
Boy, 15, arrested after teenage boy stabbed to death outside school
He’s the second person to be arrested
A teenage boy has been arrested following the murder of a 15-year-old on Wednesday.
The suspect, also 15, was picked up by police after student Khayri McLean was stabbed to death in Huddersfield.
He has now been arrested in connection with the murder.
He’s the second person to be arrested as police investigate Khayri’s death outside his school.
West Yorkshire Police said: “Police investigating the murder of 15-year-old Khayri McLean in Huddersfield have arrested a second youth in connection with the incident.
“The 15-year-old male was arrested yesterday and is currently in custody. A 16-year-old male who was arrested yesterday also remains in custody.
“Officers from West Yorkshire Police’s homicide and major enquiry team (HMET) are continuing to conduct enquiries into the death of Khayri, who died after being stabbed on Woodhouse Hill, Huddersfield, on Wednesday.”
Kwasi Kwarteng scraps cap on bankers’ bonuses in first mini-budget as Chancellor
NEWS JUST IN
Chancellor Kwasi Kwarteng gave his first mini-budget in the House of Commons this morning.
He began by discussing the government’s plan to support people with the cost of energy, including freezing domestic bills at £2,500 and giving out the £400 rebate.
There’s also unit price limits for companies.
Kwarteng said he believes the UK needs a ‘new approach for a new era’ to achieve growth of 2.5%, saying the three important parts of his mini-budget are reforming the economy’s supply side, tax cuts and a responsible approach when it comes to public finances.
As part of this, the Chancellor announced a new bill to overhaul planning restrictions, saying this will ‘unpick the complex patchwork of planning restrictions and EU-derived laws’.
He revealed that benefit claimants will see their benefits reduced if they do not fulfil their job searching commitments.
Kwarteng also confirmed that the cap on bankers’ bonuses will be scrapped, following reports that he would make this one of his first moves.
As well as that, the planned corporation tax increase has been cancelled, and will remain at 19%, with the Chancellor also setting out a series of tax cuts for businesses.
This includes tax cuts for businesses in designated tax sites for 10 years, accelerated tax reliefs for buildings, and no business rates to pay for newly occupied business residences.
Drag Race UK star Cherry Valentine has died aged 28
NEWS JUST IN
Drag star George Ward, known as Cherry Valentine, has sadly passed away aged 28, it’s been confirmed this morning.
Ward’s family announced the news, describing his death as a ‘profound shock’.
He appeared on series two of RuPaul’s Drag Race UK, before going on to front the BBC documentary Gypsy Queen And Proud.
According to his family, Ward – who was raised in Darlington, County Durham as part of the Traveller community – died on Sunday.
He qualified as a mental health nurse back in 2015 before he began his career in drag.
Ward’s family said in a statement: “It is with the most heart-wrenching and deepest sadness to inform you that our George – Cherry Valentine – has tragically passed away.
“This will come as a profound shock to most people and we understand there is no easy way for this to be announced.
“As his family, we are still processing his death and our lives will never be the same.
“We understand how much he is loved and how many lives he has inspired and touched. All we ask is for your patience and your prayers in this time. We love you Georgie.”