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Budget 2021: Key Points of Rishi Sunak’s Recovery Plan

Video Credit: ODN - Duration: 01:49s - Published
Budget 2021: Key Points of Rishi Sunak’s Recovery Plan

Budget 2021: Key Points of Rishi Sunak’s Recovery Plan

The UK's economic recovery from coronavirus will be "swifter and more sustained" than previously thought, Chancellor Rishi Sunak told MPs as he set out his Budget.

But he warned it would take "a long time" to rebuild and pledged to do "whatever it takes" to support people.

In his Budget the Chancellor: - Extended the stamp duty holiday from the end of March until the end of June.

- Confirmed the extension of the furlough scheme until the end of September.

- Extended the 5% reduced rate of VAT for the tourism and hospitality sector to the end of September.

- Continued the business rates holiday for the retail, hospitality and leisure sectors until the end of June.

- Announced the temporary £20-a-week increase in Universal Credit payments will continue.

- Set out a new Recovery Loan Scheme.

-Froze all alcohol duties and scrapped a planned increase in fuel duty.

Report by Avagninag.

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