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💻Help to Grow: Digital is now live!💻
Get a 50% discount on productivity-enhancing software, worth up to £5,000 for your business.
Supercharge your growth 👉 …-to-grow-your-business.service.gov.uk
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Missed the full speech?
Here are 5️⃣ things you need to know about #Budget2021 and #SpendingReview.
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🗓️The Job Support Scheme begins on 1 November.
🗒️Guidance for the scheme is available now: gov.uk/guidance/check…
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In businesses legally required to close, as I’ve already announced, employers will pay people two thirds of their normal salary where they can’t work for a week or more; and the government will cover 100% of those costs.
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We’ll continue with the 100% business rates holiday through to the end of June.
For the remaining nine months of the year, business rates will still be discounted by two thirds, up to a value of £2m for closed businesses.
A £6bn tax cut for business. #Budget2021
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4/ The UK government will also provide £360m directly to charities providing essential services and supporting vulnerable people, as we battle the coronavirus.
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We’re providing homeowners and landlords vouchers covering up to two thirds of the cost of green home improvements up to £5,000.
Check your eligibility for a Green Home Grant here: simpleenergyadvice.org.uk/green-homes-gr… twitter.com/SciTechgovuk/s…
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At #Budget2021 I promised to double the funding to help businesses take on new apprentices.
Today we deliver on that promise and businesses can now claim £3000 for each new apprentice they hire. It’s another important part of our #PlanForJobs.
More: gov.uk/government/new…
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5/ 95% of people who are majority self-employed will benefit from this scheme.
HMRC are working urgently, we expect people to access it no later than the beginning of June. If eligible, HMRC will contact you with an online form, they pay the grant straight to your bank account.
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3/ You’ll be able to claim these grants and continue to do business.
We’re covering the same amount of income as we are for furloughed employees, who also get a grant worth 80%. That’s unlike almost any other country, making our scheme one of the most generous in the world.
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I can confirm today: the planned rise in fuel duty will be cancelled.
That’s a saving over the next five years of nearly £8bn.
After 12 consecutive years of frozen rates, the average car driver has now saved a total of £1,900. #Budget2021
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You could apply for a Bounce Back Loan in the time it takes to have lunch.
Apply directly with our accredited lenders linktr.ee/rishisunak
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A new one year 50% business rates discount for retail, hospitality, & leisure sectors.
A tax cut worth almost £1.7bn and with Small Business Rates Relief over 90% of all these businesses will see a discount of at least 50%.
Taken together, today we cut business rates by £7bn.
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We’re making the UK a Science Superpower – funding the fastest increase in R&D spending ever.
As part of that, we’re upping core science funding by £1.1bn, fully funding Horizon Europe, increasing Innovate UK’s budget, and funding £800m for ARIA and £1.7bn for Net Zero R&D.
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3/ The government, together with employers, will increase those people’s wages 𝐜𝐨𝐯𝐞𝐫𝐢𝐧𝐠 𝟐/𝟑 𝐨𝐟 𝐭𝐡𝐞 𝐩𝐚𝐲 𝐭𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐥𝐨𝐬𝐭 by reducing their working hours.
The employee will keep their job. Anyone who as of yesterday is employed is eligible.
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3/ We will allocate £60m of this funding through the Barnett formula to Scotland, Wales and Northern Ireland.
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4/ I’ve taken steps to make the scheme deliverable, and fair.
It’s only open to those with trading profits up to £50,000, who make a majority of their income from self-employment. To minimise fraud only those already in self-employment, who have a tax return for 2019 can apply.
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2/ The scheme will support viable jobs so 𝐞𝐦𝐩𝐥𝐨𝐲𝐞𝐞𝐬 𝐦𝐮𝐬𝐭 𝐛𝐞 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐚𝐭 𝐥𝐞𝐚𝐬𝐭 𝐚 𝐭𝐡𝐢𝐫𝐝 𝐨𝐟 𝐭𝐡𝐞𝐢𝐫 𝐧𝐨𝐫𝐦𝐚𝐥 𝐡𝐨𝐮𝐫𝐬 and be paid for that work, as normal, by their employer.
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As the Bounce Back Loan and CBIL schemes come to an end, we’re introducing a new Recovery Loan Scheme to take their place. #Budget2021
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By age thirty, people with poor numeracy skills are more than twice as likely to be unemployed as their peers.
So today we launch: Multiply.
Multiply is a £560m, three-year plan to improve basic maths skills and change people’s lives across the whole United Kingdom. #Budget2021
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1/ Bounce Back Loans have given over a million small businesses a £38 billion boost to survive this pandemic.
To give those businesses more time and greater flexibility to repay their loans, we’re introducing 𝐏𝐚𝐲 𝐀𝐬 𝐘𝐨𝐮 𝐆𝐫𝐨𝐰.
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For the next five years, homeowners having energy saving materials like solar panels, heat pumps, or insulation installed will pay zero VAT.
The relief used to be more generous but the European Courts of Justice required us to restrict its eligibility.
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We're making the Open Job Support Scheme more generous to protect jobs during lower demand.
- Government now pays at least 62% for hours not worked
- Employer contribution cut from 33% to 5%
- Employees now take home at least 73% of pay for working a new minimum 20% of hours
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To help more businesses access additional support, deadlines for applications to our government-backed loan schemes and the Future Fund have been further extended until 31 January 2021.
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Help to Grow: Management will help thousands of SMEs get world-class management training.
Help to Grow: Digital will help them develop digital skills with free expert training and a 50% discount on new productivity-enhancing software
Register now: gov.uk/helptogrow
Prime Minister of the United Kingdom 🇬🇧
@Conservatives leader.
MP for Richmond (Yorks).