Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • Warning to Small Businesses Over New Food Waste Regulations
  • What do the new bereavement leave plans mean?
  • Royal Mail Launches £1 Million Apprenticeship Levy Gifting Fund
  • 5 Biggest Business Risks Facing the UK Chemical Sector
  • Planning a rural business move? What Clarkson’s picnic clause might teach you
  • Meet the Tech Leader Who Makes Things Happen
  • Handheld Laser Scanners Drive New Growth For Sep Geospatial In Unlikely Sectors
  • Loughborough’s Here Self Storage Hits 65% Occupancy As Local Demand Grows
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»Finance»Government Job Recovery Plan Main Points:
Budget

Government Job Recovery Plan Main Points:

0
Posted By sme-admin on July 9, 2020 Finance

Supporting jobs

As part of the plan to support jobs, a Job Retention Bonus will be introduced to help firms keep furloughed workers. UK Employers will receive a one-off bonus of £1,000 for each furloughed employee who is still employed as of 31 January 2021.

A new £2 billion Kickstart Scheme will also be launched to create hundreds of thousands of new, fully subsidised jobs for young people across the country. Those aged 16-24, claiming Universal Credit and at risk of long-term unemployment, will be eligible. Funding available for each six-month job placement will cover 100% of the National Minimum Wage for 25 hours a week – and employers will be able to top this wage up.

A total of £1.6 billion will be invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job. Young people, who are amongst the worst hit by the crisis, will benefit from this. This includes:

  • Businesses will be given £2,000 for each new apprentice they hire under the age of 25. This is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan.
  • A £111 million investment to triple the scale of traineeships in 2020-21 ensuring more young people have access to high quality training.
  • £17 million of funding to triple the number of sector-based work academy placements in 2020-21
  • Nearly £900 million to double the number of work coaches to 27,000;
  • Over a quarter of a million more young people to benefit from an extra £32 million investment in the National Careers Service.

Job creation

The plan includes bringing forward work on £8.8 billion of new infrastructure, decarbonisation and maintenance projects in the hope of creating new jobs.

This includes a £3 billion green investment package that could help support around 140,000 green jobs and upgrade buildings and reduce emissions.

As part of this package homeowners and landlords in England will be able to apply for vouchers from a £2 billion Green Homes Grant scheme this year to pay for green improvements such as loft, wall and floor insulation that could save some households hundreds of pounds a year on their energy bills.

And a £1 billion program will make public buildings, including schools and hospitals, greener, helping the country meet its ambitions of achieving Net Zero by 2050.

In addition, £5.8 billion will be spent on shovel-ready construction projects to get Britain building. This includes:

  • £1.5 billion for hospital maintenance and upgrades
  • £100 million for our local roads network
  • over £1 billion to start to rebuild schools in the worst condition in England, plus £760 million this year for key maintenance work on schools and FE colleges
  • £1 billion for local projects to boost local economic recovery in the places that need it most
  • £142 million for court maintenance to repair around 100 courts across England.

Protecting jobs

The tourism and hospitality sectors are massive employers in the UK and have been severely impacted by the pandemic due to necessary closures to protect public health. 80% of hospitality firms stopped trading in April and 1.4 million hospitality workers have been furloughed – the highest proportions of any sector.

To encourage people to safely return to eating out at restaurants the Government’s new Eat Out to Help Out discount scheme will provide a 50% reduction for sit-down meals in cafes, restaurants and pubs across the UK from Monday to Wednesday every week throughout August 2020.

The rate of VAT applied on most tourism and hospitality-related activities will also be cut from 20% to 5%. This will save households around £160 per year on average and, together with the Eat Out to Help Out Scheme, will support over 2.4 million staff at over 150,000 businesses, helping them reopen after the Covid-19 lockdown.

The housing market is being helped with a temporary increase to the Nil Rate Band of Residential SDLT (Stamp Duty) from £125,000 to £500,000 until 31 March 2021. In England and Northern Ireland nearly 9 out of 10 people getting on or moving up the property ladder will pay no Stamp Duty at all.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Busting myths about Asset Based Lending 

How to build a £1 million pension and ISA portfolio

Pension reforms risk higher prices, fewer jobs and slower growth, FSB warns

Leave A Reply Cancel Reply

Follow SME Today on Linkedin and share all the topics you find interesting
Verify your identity for Companies House

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Events Calendar
    • Marketing
    July 7, 2025

    Bold Business Marketing Specialist Speaks In Swindon This Week

    July 4, 2025

    How Generative AI is Giving SMEs a Marketing Edge

    • Finance
    July 14, 2025

    Busting myths about Asset Based Lending 

    July 10, 2025

    How to build a £1 million pension and ISA portfolio

    • Health & Safety
    July 1, 2025

    Temperatures Soaring: Is Your Workplace Becoming Unsafe?

    January 29, 2025

    UK takeaways guilty of shocking hygiene failures:

    • Events
    July 4, 2025

    £20k grant for female-founded SME up for grabs

    July 2, 2025

    As Seen on BBC Panorama – Brad Burton to Headline The South West Expo in Swindon

    • Community
    July 11, 2025

    Building community, one cause at a time

    June 23, 2025

    Celebrating One Year In Fairford Supporting The Community

    • Food & Drink
    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    June 23, 2025

    England Cricket Captain, Ben Stokes OBE, takes a stake in Spencer Matthews’ alcohol-free spirits brand, CleanCo

    • Books
    April 24, 2025

    Values-Driven Professionalism: A Path to Client Loyalty

    December 2, 2024

    Banish the banshee boss: how to lead without fear – addressing the issue of fear-based management and how NOT to be this manager

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Most Recent Posts
    July 18, 2025

    Warning to Small Businesses Over New Food Waste Regulations

    July 18, 2025

    What do the new bereavement leave plans mean?

    July 17, 2025

    Royal Mail Launches £1 Million Apprenticeship Levy Gifting Fund

    July 17, 2025

    5 Biggest Business Risks Facing the UK Chemical Sector

    July 16, 2025

    Planning a rural business move? What Clarkson’s picnic clause might teach you

    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health

    Copyright © 2020 SME Today.

    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Editorial Submission Guidelines
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.