Chancellors Announcement- Jobs, Training and VAT in Brief

Apprenticeships and Support for Young Workers

Support for young workers

• “Kickstart scheme”: £2bn fund to pay for six-month work placements for 16 to 24-year-olds on universal credit
• Payments cover national minimum wage for 25 hours per week, plus national insurance and pension contributions for Great Britain
• £1,000 grant per trainee for employers who take on new trainees aged 16-24 in England, aiming to triple trainee numbers
• £2,000 grant for employers per apprentice under 25 hired, £1,500 for those over 25, for six months starting 1 August (in England)

Cut to VAT to 5% for Food, accommodation and attractions

Six-month VAT cut for restaurants, hotels and attractions

• Value added tax cut from 20% to 5% from 15 July to 12 January 2021 for selected areas
• Food and non-alcoholic drinks in restaurants, pubs and cafes, as well as hot takeaway food will be covered
• Accommodation in hotels and B&Bs and admission to attractions such as theme parks and cinemas also affected