Today Wednesday 8th July, Chancellor Rishi Sunak has delivered a summer statement, outlining his plan for a recovery from the economic harm done by the Corona Virus.
The Plan included many incentives to get many parts of the economy back up and running which included VAT reduction, discount on restaurant meals in August, stamp duty cut and a Job retention bonus for businesses.
Paula Basnett, CEO, Wirral Chamber of Commerce said: “The steps taken by the Chancellor today, will come with some relief to businesses as they look to pick up where they left off in March. The Vat reduction and 50% off for restaurants will go a long way to stimulating Wirral’s visitor economy sector.”
Barry Roberts, MD of Morgan Sindall said: "Today's announcement by Rishi Sunak will be welcomed by the construction businesses across the Liverpool City Region. Many businesses have slowed down projects over the last few months as we went through unprecedented times. With the announcement of stamp duty relief on homes under 500k, I would expect an upward turn in the housing market with many projects either starting or restarting."
Nicola Palios, Chair Wirral Visitor Economy Forum and Vice-Chair Tranmere Rovers Football Club said: “It is good to see the Chancellor acknowledging that the visitor economy needs special assistance, and throwing it a much-needed lifeline.”
Paula added: “While this is a positive for businesses, we have to mindful that these may not support everyone in our vibrant independent scene, and I would like to remind all of Wirral’s business community that we are here to support and assist you on how best to make the most of these business incentives.”