Budget 2021: Key Points

The Chancellor, Rishi Sunak, gave something of a tour-de-force in delivering his second budget today. In addition to freezing duty on Alcohol and Fuel (always welcome though rare!), there will be further Coronavirus support, including:

  • Furlough to be extended until the end of September
  • Government to continue paying 80% of employees’ wages for hours they cannot work
  • Employers to be asked to contribute 10% in July and 20% in August and September
  • Support for the self-employed also to be extended until September
  • 600,000 more self-employed people will be eligible for help as access to grants is widened
  • £20 uplift in Universal Credit worth £1,000 a year to be extended for another six months
  • Working Tax Credit claimants will get £500 one-off payment
  • Minimum wage to increase to £8.91 an hour from April

There are lots of other measures regarding taxation and business investment. A useful summary can be found here.