The Chancellor of the Exchequer, Rishi Sunak, delivered his Economic Update Statement on 8 July, taking the opportunity to set out some key measures to assist the UK economy in its transition
Far from being a “mini budget” as some had predicted, the Chancellor announced a move into ‘Phase 2’ of his economic response to COVID-19. He promised a further Budget and Spending Review will follow this Autumn.
The statement focused on jobs, housing and the leisure and hospitality sector. To give more detail on the measures announced and how they may affect your business situation, we’ve created the following guide:
If you have any questions about the contents of our Summary, please get in touch with a member of our Tax team.
Aileen Scott, Partner and Head of Tax
0141 886 6644