UK Chancellor announces new raft of stimulus

Rishi Sunak, Chancellor of the Exchequer has announced new stimulus measures for the UK to help combat the profound economic challenges ahead for the UK. The mini budget contained a cut to VAT for the hospitality sector, 50% off restaurant meals in August and a cut to stamp duty for homes under £500k.The last initiative called the Job retention bonus will see the UK government pay companies £1,000 per employee they hire back after the furlough programme ends. If the take up on this was 100% and all employees were hired back this would cost the UK government £9bn .