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The UK is launching an economic stimulus package of € 33,000 million with lower VAT and a lower employment bonus

July 8, 2020

The UK government has announced a package of stimulus packages of around £ 30,000m (£ 33,300m), which will include a temporary drop in the value added tax for hospitality and tourism and the payment of a bonus to companies that cease their employment after the end of the public Maintain the support plan for at least three months or reduce the consumption bill in restaurants by 50% in August.

British Finance Minister Rishsi Sunak, 39, who took office last February after Sajid Javid’s resignation, presented a series of economic recovery measures to the UK Parliament on Wednesday. who had held the position since July 2019.

“Our plan has a clear goal: to protect, support and create jobs. It gives companies the confidence to keep and hire jobs. To create jobs in all parts of our country. Young people get off to a better start. People everywhere have the opportunity for one Fresh start, “said Sunak.

The UK is launching an economic stimulus package of € 33,000 million with lower VAT and a lower employment bonusThe UK is launching an economic stimulus package of € 33,000 million with lower VAT and a lower employment bonus

Among the major measures announced, the UK government will cut VAT on hotels and tourism for six months, which will be 5% instead of the current 20% as of June 13th, in addition to the Monday through Monday Wednesday August application of a reduction in consumption costs Restaurants and cafes up 50%, which the minister estimates save £ 160 per family and can support more than 2.4 million workers from 150,000 establishments in the country.