Chancellor Rishi Sunak has delivered #Budget2021 today, hailed by Prime Minister Boris Johnson as a 'Budget for Recovery'.
Highlights include:
- Extending the furlough scheme until the end of September
- Doubling apprentice payments to £3,000 for all new hires, of any age
- Restart Grants to help businesses reopen and get going again
- £300m additional funding for the Culture Recovery Fund
- Stamp Duty cut extended by three months
- 5% reduced rate of VAT for hard-hit sectors extended for six months
- The 100% business rates holiday will continue to the end of June
- Government will offer lenders the guarantee they need to provide 95% mortgages
- Freezing personal tax thresholds
- In 2023, the rate of corporation tax, paid on company profits, will increase to 25%
- The Super Deduction - helping businesses invest in new equipment
- Planned increases in alcohol duties will all be cancelled
- Help to Grow - helping small businesses develop digital services, and providing new management training through business schools
- Visa changes to fast-track top talent
- The first eight Freeport locations in England
