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In the News

Sunak's Winter Economic Plan

Graham Watson

25th September 2020

We have brought together some resources on the Winter Economic Plan launched by Chancellor Sunak in September 2020.

The major part of the Chancellor's speech focused on creating an emergency jobs scheme, helping to cover workers' wages for the next six months.

If workers face reduction in their hours, then any shortfall in pay will be covered by both their employers and the government, with the contribution of the latter capped at around £700 per month.

Here is the Chancellor's rescue plan in his own words...

Sunak's Winter Economic Plan

Part of the Chancellor's address to the House today covered the extension of a VAT cut for tourism and hospitality from the end of January until the end of March 2021.

Some chains have passed this onto consumers - predominantly large chains - but for others it's provided a Covid-buffer as they struggle to cover costs.

Read more here

The Guardian reckon there are gaps in the Chancellor's emergency jobs scheme. They detail where in this article, noting that a number of groups have been excluded.

Larry Elliott warns of tough times ahead...

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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