How Orpington Will Benefit From Rishi Sunak's Plan For Jobs
Today the Chancellor of the Exchequer Rishi Sunak MP set out an ambitious plan to protect, support and create jobs which will help Orpington bounce back after the coronavirus crisis.
During lockdown, more than 13,000 jobs and incomes have been protected by the Government in the Orpington constituency and hundreds of businesses have received support. But I know that many constituents are anxious about losing their jobs and that local businesses are worried about their survival in the wake of this crisis.
The Chancellor's Plan for Jobs is the right approach to protect people's livelihoods in the Orpington constituency and here are seven ways it will help you:
1) Job Retention Bonus - The employers of the 9,500 furloughed workers in the Orpington constituency will receive a one-off bonus of £1,000 for each furloughed employee who is still employed as of 31 January 2021. This will incentivise and help employers to keep staff on.
2) New £2 Billion Kickstart Scheme - This new schemewill be launched to create new, fully subsidised jobs for young people in Orpington. Funding available for each six-month job placement will cover 100% of the National Minimum Wage for 25 hours a week – and employers will be able to top this wage up.
3) VAT cut for tourism and hospitality sectors - To help boost these sectors which have been hardest hit by the coronavirus crisis, the Government will cut VAT on tourism and hospitality-related activities from 20% to 5%. This will also save Orpington households the equivalent of £160 per year on average.
4) More Employment Support, Training and Apprenticeships - A total of £1.6 billion will be invested in helping young people find jobs. This includes offering businesses £2,000 for each new apprentice they hire under the age of 25, doubling the number of work coaches to 27,000, and a £111 million investment to triple the scale of traineeships in 2020-21.
5) Temporary Stamp Duty Cut - To help people feel confident to move, buy and sell their homes, no stamp duty will be charged on transactions of up to £500,000 until 31 March 2021. This will drive growth and support jobs across the housebuilding and property sectors.
6) Green Homes Grant - Homeowners and landlords in Orpington will be able to apply for vouchers as part of a £2 billion Green Homes Grant scheme to pay for green improvements such as loft, wall and floor insulation that could save households hundreds of powers a year on their energy bills.
7) Eat Out to Help Out - This new discount scheme will provide a 50% reduction for sit-down meals in Orpington's cafes, restaurants, and pubs from Monday to Wednesday every week throughout August 2020.