Britain is set to ease its lockdown while the Prime Minister has touted a new ‘Great Recovery Bill’ that is set to boost growth.
The plan will aim to fire up the UK economy and help companies that have been badly affected by the pandemic over the past several months. With millions of workers still on the government’s furlough scheme and record job losses in the airline industry – there has been hope that more can be done to re-start the British economy.
No10 aims to get the summer off to a good start by easing the lockdown and making significant reforms to cut red tape, ditch outdated legislation and push forward a mini-budget for July.
It is expected that in the budget there will be tax cuts to boost consumer spending with additional commitments on infrastructure investments and national insurance contribution deductions for companies.
The big stimulus package is set to give the UK economy the leverage it needs to get back on its feet. And with businesses looking to salvage months of losses from people being isolated at home – the cash boost and the tax cuts could make a big impact on reviving business confidence.