CHANCELLOR Rishi Sunak has announced plans to kick-start the battered British economy following the damage caused by the coronavirus crisis.

In an economic update to MPs – labelled as a ‘mini budget’ – Mr Sunak said ‘no one will be left without hope’.

And he announced a three-point plan for jobs, partly aimed at delivering hundreds of thousands of roles across the country.

He said: “Where problems emerge we will confront them, where support is justified we will provide it, where challenges arise we will overcome them.

“This crisis has highlighted the special bond which holds our country together.”

Mr Sunak said the Government’s furlough scheme will wind down ‘flexibly and gradually’, supporting businesses through to October.

And a new policy to reward and incentivise employers who bring employers back, a jobs retention bonus, will be introduced.

What was announced in the ‘mini budget’?

-Jobs retention bonus: businesses who bring employers back from furlough will be paid a £1,000 bonus per employee.

-Government will pay the bonus for all furloughed employees, with the policy to retain people in work costing up to £9 billion.

-A kick-start scheme to give hundreds of thousands of people the best chance to get a job.

-The Government will pay young people’s wages for six months and the amount to cover overheads if employees meet conditions. For a 24 year old, the grant will be around £6,500, employers can apply to be part of scheme from next month, with the first 'kick-starters' set to be in jobs this autumn.

-To get customers back in restaurants cafes and pubs - and to protect workers - in August the Government will give everyone an ‘eat out to help out’ discount.

-Meals eaten at any participating business, Monday to Wednesday, will be 50 per cent off up to maximum discount of £10 per head for everyone including children. Businesses will need to register through a website opening next Monday and they will will be able to claim the money back.

-An immediate cut on stamp duty, with no stamp duty on transactions up to £500,000 until March 31 next year.

-VAT on hospitality - for food, accommodation and attractions - to be cut to five per cent.

Warrington South Tory MP Andy Carter has responded to the Chancellor's announcements.

Wirral Globe:

MP Andy Carter

He said: “There are some really big steps here to help important parts of Warrington’s economy and to protect jobs.

"From next Wednesday VAT will be cut across hospitality, accommodation and attractions, from 20 per cent to five per cent for the next six months, as well as something that has never been done in this country ever before – giving people up to 50 per cent off meals out, encouraging them back into restaurants, cafes and pubs.

"Anyone who eats at a participating business, Monday to Wednesday for the month of August, can receive up to 50 per cent off food and non-alcoholic drinks, up to a value of £10 per person. It’s time to get out and support our local independent businesses”.

"Scrapping stamp duty on all homes under £500,000 to help the housing market and boost confidence will save the average Warrington house buyer £4,500, I’ve already heard from local people who are delighted with this step.

"I’m most pleased to see Rishi supporting young people by creating jobs and encouraging training.

"The kick-start scheme will directly pay businesses to create new, decent and high-quality jobs for any 16-24 year old at risk of long-term unemployment.

"There’s also big boost for the apprentice scheme, providing £2,000 to employers for each new apprentice they hire aged under 25."