RE: Started to rebuild my position22 Jun 2020 18:54
Chancellor Rishi Sunak is likely to hold an emergency Budget on Wednesday 8 July 2020 to usher in new support measures to help the economy move out of the coronavirus lockdown and to get the country working again.
Chancellor Rishi Sunak is likely to hold an emergency Budget on Wednesday 8 July 2020 to usher in new support measures to help the economy move out of the coronavirus lockdown and to get the country working again.
He wants to rebuild the economy with new job creation schemes to help deal with rising unemployment.
According to reports in both The Times and the Financial Times, the Chancellor has pencilled in a Budget for the week beginning 6 July, which means it will probably be held on the Wednesday (8th) - the day Budgets are normally held.
This has not yet been confirmed by The Treasury.
According to reports, the July Budget could contain three key elements:
TRAINING - A skills funds to retrain furloughed workers who have lost their jobs when the furlough scheme ends. The Chancellor will want to try to move towards full employment at a sustainable living wage.
GREEN INFRASTRUCTURE
- Massive extra infrastructure spending. This is likely to include transport projects and an acceleration of the roll out of gigabit-capable broadband. It will also include green energy projects that help the country move towards decarbonisation and the legal commitment to bring all greenhouse gas emissions to net zero by 2050 (e.g. creating more cycle paths, improving domestic insulation, carbon capture storage and hydrogen technologies, etc.). Many business leaders are lobbying for a green recovery that tackles climate change. It could also mean state funding for domestic telecoms companies to help them develop rival 5G technology to Huawei.
TECH - A plan to help British-based technology firms.
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