He vowed to turn the UK's national recovery "into millions of stories of personal renewal" as he unveiled a £30 billion package of measures. Sunak said firms within those sectors will see their sales tax slashed to 5 percent from 20 pecrent currently. This measure, Sunak said, is worth £4 billion pounds and will help companies support 2.4 million jobs. Other measures announced included 2 billion pounds to fund work placement schemes for 16-to-24-year-olds, a £3 billion environmental package as well as the temporary elimination of a tax on house purchases below £500,000. Sunak said his "plan for jobs'' will give businesses the confidence to retain and hire.-AP/Sky News.

Source: The Standard July 08, 2020 13:41 UTC