Bribing the economy to get moving

(Updated 8 July 2020)

Yesterday saw another of Rishi Sunak’s big announcements of massive spending but still no sign of what we can expect in the future for tax rises.

But let’s make hay while the sun shines. There were lots of incentives in a tightly packed speech whether or not bribing us as consumers and business owners is enough to get the wheels of the economy moving fast enough to avoid a really serious recession.

There is still much more detail to be announced following yesterday’s speech. You know, I actually miss the budgets because although the budget document is long and dull at least it gives you most of the detail of what the speech was introducing!

But we’ve put 5 separate pages together with our guidance currently and we will keep it updated as more information is confirmed.

This is what we know so far about:

Kickstart Scheme – Funding for employers taking on new staff

VAT Rate Reduction for Hospitality and Entertainment 

Eat out to help out

Furlough Bonus Payment 

Stamp Duty Holiday