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UK announces a fresh £30bn plan to save jobs

Jul 08, 2020 20:45 IST

UK finance minister Rishi Sunak has announced a new £30 billion plan  to save jobs by paying bonuses to employers to bring back furloughed workers. He also announced tax cuts in hospitality and for homebuyers. Sunak said that the govt will play £1000 to employers for every furloughed worker who returns to work when the furlough scheme ends in October. Under the current scheme, the govt pays the salaries of employees who have been sent on leave without pay. For the struggling hospitality and tourism sectors, Sunak cut the Value-added Tax to 5% from 20%. The UK govt has also cut the amount of stamp duty that needs to be paid while buying a house. 

National