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.