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Wednesday, July 8, 2020
The Chancellor of the Exchequer Rishi Sunak will make a summer statement, outlining his plans for the UK’s economic recovery after COVID-19.
He will be launching a Kickstart scheme aimed at finding work for 350,000 jobless 16-24 year olds on Universal Credit. The plan is that by paying 25 hours a week of minimum wage for six months, there will be a boost in hires.
He could also be launching a six month stamp duty holiday.
The chancellor has outlined some other measures such as:
- Pledging to provide 30,000 new traineeships for 18-25 year olds in England, giving £1000 to companies for each new work experience place offered
- A £1.6bn grant for the art and heritage sector
- Doubling front line staff at job centres
This plan will be unrelated to the autumn Budget, which will still be announced later this year.