UK Chancellor Rishi Sunak on Wednesday unveiled a package of GBP 30 billion worth of stimulus measures, including tax cuts and bonuses, to support jobs amid the economic slump caused by the coronavirus, or Covid-19, pandemic.
The latest measures are part of the government's three phase plan to boost the economy that is severely hurt by the lockdown and social distancing measures triggered by the Covid-19.
"Our plan has a clear goal: to protect, support and create jobs," Sunak told parliament.
"It will give businesses the confidence to retain and hire."
The chancellor announced a job retention one-off bonus of GBP 1,000 for each furloughed employee who is still in employment as of January 31, 2021.
The government will launch a GBP 2 billion Kickstart Scheme to create hundreds of thousands of new, fully subsidised jobs for young people in the 16-24 age group who are claiming Universal Credit and at risk of long-term unemployment.
The chancellor also announced a total GBP 1.6 billion investment for scaling up employment support schemes, training and apprenticeships to help people looking for a job.
The Plan for Jobs also include bringing forward GBP 8.8 billion of new infrastructure, decarbonisation and maintenance projects. A GBP 3 billion green investment package within this could save around 140,000 green jobs and upgrade buildings and reduce emissions, the chancellor said.
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