Fylde MP Mark Menzies has welcomed the Chancellor's statement following the announcement of measures to boost the tourism industry and to retain and create jobs following the shutdown caused by Coronavirus.
Mr Menzies said: “The Chancellor has taken action to help our hospitality industry and to create thousands of jobs for young people.
“The tourism businesses I have spoken to in Fylde wanted to see a VAT cut to help them get up and running again and I am delighted to see it cut from 20 per cent to five per cent on food, accommodation and attractions. I am sure the ‘Eat Out to Help Out’ scheme will also help our restaurants and pubs get back to business on traditionally quiet days.
“I am also pleased to see the £2 billion scheme to create thousands of jobs for young people, as well as the £1,000 job retention bonus for businesses who bring their furloughed employees back to work.
“A further £2 billion Green Homes Grant will not only create tens of thousands of jobs, it will help us make further significant carbon reductions and increase energy efficiency, providing further utility savings for households.
“The change in Stamp Duty will help more people move and reinvigorate the housing market; we know those who move will often spend a considerable amount of money on household items and furniture, further helping the economy.”
The Chancellor's statement follows a huge Government support package to help businesses and employees through the Coronavirus pandemic.
In Fylde, some 9,400 employees were furloughed through the Coronavirus Job Retention Scheme with the Government covering 80 per cent of their wages.
The Government paid a further £7.2 million in income support to 2,700 self-employed Fylde-based workers.
The Chancellor has now set out the second phase of the Government’s response, focusing on jobs: supporting people to find the jobs that are out there, creating new jobs through investing in infrastructure, and protecting jobs by revitalising the hard-hit sectors upon which many jobs depend.
As part of this, employers will be encouraged to retain staff who have been on the furlough scheme, with the Government paying a one-off bonus of £1,000 for every employee who was furloughed and who is kept on until January.
Also included in the Government’s £30 billion Plan for Jobs:
- A temporary cut in VAT for the tourism and hospitality sectors, to give a much-needed boost to some of the industries hardest hit by coronavirus.
- A new Eat Out to Help Out Scheme, giving people up to 50 per cent off meals out at restaurants, pubs and cafes on Mondays, Tuesdays and Wednesdays in August.
- The temporary removal of stamp duty on all homes under £500,000 until the end of March 2021, to catalyse the housing market.
- A new Kickstart Scheme, which will create hundreds of thousands of new, fully-subsidised jobs for young people.