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Seven Days: 10 July 2020

Seven Days: 10 July 2020

Summer statement

Stimulus pledges

As explored in our news pages this week, the UK chancellor has delivered a summer economic update – outlining how the government plans to drive job creation and retention as the existing furlough scheme winds down through to the end of October. In the same breath, Rishi Sunak unveiled a widely-anticipated shift in the stamp-duty threshold – meaning that there is now no stamp duty payable on property transactions below £500,000. The chancellor has also slashed VAT for the next six months on food, accommodation and attractions, and is offering a discount on meals at restaurants and pubs during August.

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