---
title: Mini budget summer 2020 - summary
description: 3 Ways to Increase Diversity and Inclusion in Your Workplace Starting Today.
---

[Blog ](https://www.eo-uk.org/blog)

# [Mini budget summer 2020 - summary](https://www.eo-uk.org/blog/mini-budget-summer-2020)

 Written by [Entrepreneurs' Organization](https://www.eo-uk.org/blog/author/entrepreneurs-organization) | 9, July, 2020

On Wednesday, 8 July 2020, the Chancellor Rishi Sunak pledged to protect, support and create jobs and get pubs and restaurants "bustling again" as he unveiled a package to kickstart the economy’s recovery.

While updates to the associated Treasury Direction and HMRC’s Guidance are awaited, here are the key updates:

**1) Job Retention Bonus **

- Chancellor announced new job retention bonus for employers who bring back furloughed staff.
- The government will pay a £1,000 bonus to businesses for each furloughed person brought back and employed through to January-21.

**2) VAT **

- VAT on food, accommodation and attractions has been cut from 20% to 5%, a £4bn boost for the industry.
- VAT will be reduced from 15 July until January 12th.

**3) Stamp Duty: **

- The Chancellor announced a temporary holiday on stamp duty to help revive the property market.
- Previously, there was no stamp duty on transactions below £125,000 (or £300,000 for first-time buyers).
- Now, homebuyers will be temporarily exempt from paying the Stamp Duty tax for the first £500,000 of any property price.
- It takes effect immediately from 8 July 20 until 31 March 21.

**4) Kickstart Scheme **

- The fund will create government-subsidised jobs for unemployed young people and employers will be able to offer a six-month placement for people aged between 16-24.
- For the next six months, the Government will pay businesses up to £2000 for every new apprentice.
- It will also pay £1,500 for every new apprentice above 25.

**5) 50% Meals Discounts **

- Every Briton, including adults and children, will be given an "eat out to help out" discount.
- Meals eaten at any participating restaurants, on sit-down meals and non-alcoholic drinks, Monday to Wednesday in the month of August will be 50% off at up to £10 per head.

**6) £3bn Green jobs plan **

- The Chancellor announced a £3bn package of green investment to help create thousands of jobs.
- The grants will cover at least two thirds of the cost, up to £5,000 per household.

[View full post](https://www.eo-uk.org/blog/mini-budget-summer-2020)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Entrepreneurs' Organization"
  },
  "dateModified" : "2020-10-01T11:43:57.273Z",
  "datePublished" : "2020-07-09T15:17:00Z",
  "headline" : "Mini budget summer 2020 - summary",
  "image" : {
    "@type" : "ImageObject",
    "height" : 500,
    "url" : "https://f.hubspotusercontent00.net/hubfs/4989207/Site%20Build%202020/Blog%20Images/Mini-budget-summer-2020-summary.jpg",
    "width" : 1000
  },
  "mainEntityOfPage" : "https://www.eo-uk.org/blog/mini-budget-summer-2020",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : " Blog"
  }
}
```