Key points to note:

  • Job Retention Bonus:To help firms keep on furloughed workers, UK Employers will receive a one-off bonus of £1,000 for each furloughed employee who is still employed as of 31 January 2021.
  • Kickstart Scheme: A new £2 billion scheme will also be launched to create hundreds of thousands of new, fully subsidised jobs for young people across the country. Those aged 16-24, claiming Universal Credit and at risk of long-term unemployment, will be eligible. Funding available for each six-month job placement will cover 100% of the National Minimum Wage for 25 hours a week – and employers will be able to top this wage up.
  • Employment and support schemes:A total of £1.6 billion will be invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job.
  • Creating jobs: The plan will also create tens of thousands of jobs through bringing forward work on £8.8 billion of new infrastructure, decarbonisation and maintenance projects. In addition, £5.8 billion will be spent on shovel-ready construction projects to get Britain building.
  • Eat Out to Help Out:To encourage people to safely return to eating out at restaurants the Government’s new discount scheme will provide a 50% reduction for sit-down meals in cafes, restaurants and pubs across the UK from Monday to Wednesday every week throughout August 2020.
  • VAT: The rate of VAT applied on most tourism and hospitality-related activities will be cut from 20% to 5%.
  • Stamp Duty: A temporary increase to the Nil Rate Band of Residential SDLT (Stamp Duty) from £125,000 to £500,000 has been introduced until 31 March 2021.

 

Full details of the announcement can be found here: https://bit.ly/CXPlanForJobs.

sobus
20 Dawes Road, London, SW6 7EN

Telephone 020 7952 1230
Email info@sobus.org.uk

Registered Charity No.1071089
and Company Limited by Guarantee. Registered in England No.03471416

sobus is a new Community Development Agency for Hammersmith & Fulham. It has been created through the merger of the Community and Voluntary Sector Association Hammersmith & Fulham (CaVSA) and the Fulham Community Partnership Trust (FCPT). Building on the strengths of both organisations, sobus aims to provide a wider range of support services for local charities, community groups, social enterprises and start up businesses.