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Reopening the property market during lockdown
Reopening the property market during lockdown
From the Queen’s Speech to the next election: what now for the government’s agenda?
From the Queen’s Speech to the next election: what now for the Government’s agenda?

Posts Tagged ‘summer statement’

Summer Statement 2020: Key Points

The Chancellor has this afternoon given a summer statement to the House of Commons on the government’s economic response to Covid-19.

He said the government was moving the country through three phases, and it was entering the second phase with a ‘plan for jobs’. The third phase, which will focus on the ‘plan to rebuild’, will come in the autumn through a Budget and Spending Review.

He noted that public finances would have to be put on a sustainable footing in the medium term, but he would not accept mass unemployment as unavoidable.  This was outlined in the context of the IMF expecting the deepest global recession since records began, the OBR predicting significant increases in unemployment and the economy having contracted by 25% in just two months – the same amount it grew in the previous 18 years.

He confirmed the furlough scheme would be wound down flexibly and gradually, continuing until October, as measures were introduced to support, create and protect jobs.

On supporting jobs, he announced:

 On creating new jobs, he announced:

 On protecting jobs, he announced:

The Summer Statement will be followed by an Budget, expected in October or November.

 

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