Will the holiday with stamps and Rishi’s rescue plan be enough … and how will we pay for all this? The Covid mini budget on the This Money podcast
The showstopper was a big cut on stamps, the key element was keeping jobs afloat, and the rabbit out of the hat was a great British meal deal.
But the question is, was Rishi Sunak enough money in the summer statement to regain the nation’s confidence in the coronavirus crisis, or will real recovery require more in the future?
On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost run the line about the chancellor’s performance (spoiler warning, he’s good) and the content of his speech (you have to listen to the show for the verdict on that).
They also ask the tricky question of how we’re going to pay for all this – and does it matter now?
Moreover, that was a great blow to the ‘bad tax’ which is stamp duty; a £ 1,000 stop is enough for a company to keep someone working; how severely will the catering industry be affected; and how crazy would you have called someone who predicted at the beginning of the year that we would have an official Eat Out to Help Out scheme by summer?
On this podcast, the team delves into Rishi’s rescue plan and looks at what works, what doesn’t work, and who the winners and losers are.
The stamp duty cut should keep more money in the pockets of homebuyers to spend and help the economy, but will they do it or save it – and suggest it will only drive up house prices in a tough buyer market?
The leave program will be phased out, but the mood music is now about getting people to work instead of not paying them – the £ 1,000 bonus for that is a real helping hand, or just money for companies that would have taken people back anyway ?
And finally, the chancellor declared that he would do something Britain had never done before … then delivered him a meal offer from Monday to Wednesday.
Are government-subsidized dinners a sign that the world has finally gone completely crazy, smart little confidence booster?
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