to get customers back into so, to get customers back into restau ra nts, so, to get customers back into restaurants, cafe is in pubs and protect the 1.8 million people who work in them, i can announce today that for the month of august, we will give everyone in the country and eat outs to help out discount. monday to wednesday will be 50% of up monday to wednesday will be 50% of up to monday to wednesday will be 50% of uptoa monday to wednesday will be 50% of up to a maximum discount of £10 per head for everyone, including children. businesses will need to register and can do so through a simple website open next monday. each week in august, businesses can then claim back with the funds and about account within five working days. 1.8 million people work in this industry. they need our support. with this measure, we can

all eat out to help out. vat cut to 596 all eat out to help out. vat cut to 5% and a first of its kind government backed discount for all. that's the third part of our plan forjobs. so, mr that's the third part of our plan for jobs. so, mr speaker, that's the third part of our plan forjobs. so, mr speaker, £1000job retention bonus, new, high—quality jobs but hundreds of thousands of young kick starters. £1 billion to double the number of work coaches and support the unemployed, more apprenticeships, traineeships, skills funding. billions of pounds for newjob creation across the country, one £3 billion plan to support the green jobs, and country, one £3 billion plan to support the greenjobs, and in this vital period as we get going again, that cuts, meals out, cut, all part of our plan worth up to £30 billion.

mr speaker, governments much less people rarely get to choose the moments that define them. what choice there is comes in how we respond. the me, this is neverjust been a question of economics, better values. i believe in and ability of work, the inspiring power of opportunity. i believe in the british people's fortitude and endurance. and it's that value, endurance, more than any other that we need to embody now. patients deliver the uncertainty of the moment, to find that new balance between safety and normality. we will not be defined by this crisis but our response to it. it is an unambiguous choice to make this moment meaningfulfor unambiguous choice to make this moment meaningful for our country, ina way moment meaningful for our country, in a way that transcends the

frustration and loss of recent months. it is a plan to turn a national recovery into millions of stories of personal renewal. mr speaker, it is our plan forjobs and i commend it to this house. order, order! before i called the shadow chancellor, i ask that members at the end of questions on this statement, i will call the chancellor of the exchequer to move a provisional taxes resolution, copies will be available in a boat office. i now call the shadow chancellor. thank you very much mr speaker. 0ur chancellor. thank you very much mr speaker. our country has been through a great deal over these past few months. hundreds of thousands have wrestled with this terrible disease. the many months, people have had to go without being able to

embrace their loved ones, even to say goodbye. tens of thousands have died. 0ur nhs, social care and other workers have made extraordinary sacrifices. we own them so much. the government has had to take big decisions too. we acknowledge that, but today, mr speaker, should have been the day when our government chose to build a bridge between what has been done so far and what needs to be done to get our economy moving again. it should have been the day when the millions of british people worried about theirjobs and their future prospects had a low taken off their shoulders. it should have been their shoulders. it should have been the day when we got the uk economy firing again. today, britain should have had a back to work budget. but, instead, we got this summer statement with many of the big

decisions put off until later, as the benches opposite know for well. labour isa the benches opposite know for well. labour is a constructive opposition during this time of crisis. we won't criticise the criticism's sake but when the government falls short, we will speak up and the blunt truth is, we have one of the highest death rates in the world. and among the deepest economic damage in the industrialised world from coronavirus. so the very first thing the chancellor must do is prevent additional economic damage, due to the slow public health response of his government. as we've seen, throughout this crisis, the failure to match rhetoric with action has consequences for people across our country. despite all its talk, the government has failed to create a fully functional test, track and

isolate system. this has damaged public confidence and, in turn, harms consumer demand. despite all its talk, the government has failed to produce a clear system for local lockdown. the lack of timely information sharing has led to the imposition of an additional one scale lockdown in leicester. the government buzz contracting outsourcing firms is £3 billion but we still don't have test, track and isolate working properly in the uk like it is a many other countries and the government still hasn't got and the government still hasn't got a grip on the low value and limited scope of sick pay. risking people's ability to self—isolate. viacom is corrosive fear is hurting our —— theatre is corrosive. fear is hurting our economy. we've got to get this right. now i welcome these

cuts and about to be used in restaurants. local business needs that support and so many low and middle income people really need help right now. that's why we've repeatedly called for social security to better meet their needs and if delivered properly, these measures should help. but when interviewed on the and it might show, the chancellor said the best government can do to boost demand is to give consumers and workers the confidence and psychological security that they can go out to work, to shop and socialise in safety, so please, chancellor, work with your colleagues say the public health response catches up with that operating in other countries. mr speaker, the prime minister said what have i been doing about that?

my party has been repeatedly suggesting solutions to the public health problems facing our country, and we need to adopt them in the uk before this crisis becomes even more severe. government must act, not just to deal with unemployment as a symptom, but also with its cause. research in the telegraph indicates that british workers have already been the biggest casualty in the globaljobs cuts. it said that while jobs markets and many other countries have already fully re cove red, countries have already fully recovered, in britain it can take comparatively much longer for va ca i'icy comparatively much longer for vacancy levels to return to normal. the levels of unemployment this country saw in the past were not just an economic waste. they ruined lives, and we are seeing the same devastated high streets and impact again, communities robbed of their pride and purpose. when it comes to the reemployment bonus announced by the reemployment bonus announced by the chancellor, of course this is necessary, not least because his

government refused to put conditions oi'i government refused to put conditions on the use of those funds related to employment. but i would ask him, first of all, how can he ensure that that mabel not just go to those employers who were already planning to bring people back into work. secondly, what will he do for those firms that lack the cash flow to be able to operate even with that bonus? related to this, the chancellor still needs to abandon his one size fits all approach to withdrawing the job retention and self employed schemes. no one is saying that those schemes should stay as they are indefinitely. we have never said that on this side of the house. but we have said that the money spent on the job retention scheme must not serve merely to postpone unemployment. it must live up postpone unemployment. it must live up to its name, supporting employment in industries that are

viable in the long—term. we need a strategy for the scheme to become more flexible so it can support the businesses forced to close again because of local additional lockdowns. there is still time to avoid additional floods of redundancy notices. it is the government was make duty to help britain through this and stop employment at the mass levels again. we need action to ensure the support for key sectors of the economy, for smes and manufacturers. while we welcome the arts and culture package, we have not had the government's plans for other sectors. many of us expected to hear them today. the operation brooch process has been slow, torturous, and large parts of industrial britain need help through this, to keep employees in jobs britain need help through this, to keep employees injobs and suppliers injobs. solutions for smes that can't take on additional debt until the autumn. this risks many of them

going to the wall. until now, the chancellor has described a targeted sector approach with the industry picking winners. but the measures have created losers, as the chancellor himself said just now that the government requires many businesses to shutdown to prevent the spread of this disease. supporting businesses that are viable in the long run currently starved of cash flow is not a matter of picking winners. it is about protecting our country's economic future, and failure to do so and make the scheme more targeted and... the claimant count is on course to top 3 million people injune. the highest number since the previous re cord highest number since the previous record in 1986. this is the chancellor's record and one which cannot and must not be worsened. where unemployment arises as a

symptom of economic damage, more must be done to help. labour repeatedly called for government to match the ambitions of labour plus make future jobs front and the welsh programme and, finally, government has come forward with a scheme apparently modelled on them, the kick—start apparently modelled on them, the kick—sta rt scheme. the apparently modelled on them, the kick—start scheme. the conservatives cancelled the future jobs fund. it has taken them almost ten years to catch up. as for the belated adoption of our approach jobs, jobs, jobs, perhaps it gives a new meaning to the phase project speed. we need to the phase project speed. we need to make sure the kick—start scheme provides additional opportunities for people, and government must also recognise the specific challenges for olderjobs seekers, recognise the specific challenges for older jobs seekers, especially those who are looking forjobs for the first time. we must be ambitious

for the future of our country's economy. 0ur ambition should not just be to build our way out of this but to do so in a greener way. for this, we need more than the reheated announcements by the prime minister la st announcements by the prime minister last week. of course the investment announcement is welcome, not least because much of it was already committed to by the government. and because elements are missing, 50 million to support social homes, for example, is just one million to support social homes, for example, isjust one seventh of million to support social homes, for example, is just one seventh of what the conservatives said they would be spending every year. the muddled confusion over stamp duty over the la st 48 confusion over stamp duty over the last 48 hours reflects a broader lack of strategy when it comes to house—building, particularly for genuinely affordable and social homes. the uk's green investment package barely touches the site of other countries commitments. even with what was announced today, it only equates to onlyjust over the value of germany's investment in one

green technology alone, hydrogen. the committee on climate change indicated how far behind the uk is in the race to decarbonise. failure to heed recommendations isn't only damaging to our planet, it also cuts us damaging to our planet, it also cuts us out of leading the development of the key technologies of the future. and the conservatives, of course, i still refusing to impose conditions on investment, to ensure that it contributes to the goal of a net zero, that it uses local firms, leads to sustainable skilled employment in local areas and prevents the use of tax havens and other forms of asset stripping. if they transfer many wants to build back better, he must prevent a rerun of the past. we have seen how families' resilience has been eroded. we entered this crisis with one quarter of families lacking even £100 in savings. in a classroom of 39 children —— like in a classroom of 30, nine are growing up in

poverty. many people standing on the brink of bankruptcy as we speak. rather than the promise that our nhs and social services will get whatever they needed this winter, to whether it potential second wave, those words were conspicuously absent from the chancellor's speech just now. politicians on this house have gone out on doorsteps to clap key workers well be lowest paid have struggled to keep a over their head. we must have a new settlement for the future. an end to poverty pay for social care workers, those who clean our hospitals and deliver our groceries. we need to recognise the value of those who have been taking for granted for too long. there were some initial progress reports that the government was due to a nice cuts to services this autumn, contradicted by the prime minister who rejected whatever had apparently been briefed out by the treasury, that has happened quite a few times. i would say to the government, if it does increase taxes during the

recovery and cuts back on the public services we all run by on, this will damage demand and inhibit a recovery. labour is not calling for tax rises. we are calling for growth. the tory manifesto committed to no rises in income tax, national insurance or vat, and therefore it is for the conservatives to set out how any additional spending will be paid for. it is the chance'sjob to the economy bounces back from the prices so there is money to protect the public finances. last week, mr speaker, the trans no's colleague be prime minister tried to claim —— chancellor's colleague. now we know why he went for roosevelt because the last thing he would have

wanted was a sign on harry truman's desk, the sign saying, the but stops here. if it was this government's sign it would say the buck stops anywhere but here. prevent unnecessary and implement and build the jobs of the future. this is a moment where our country needs its government to help britain through. chancellor of the exchequer. government to help britain through. chancellor of the exchequerlj government to help britain through. chancellor of the exchequer. i thank the honourable member opposite for that contribution. throughout this crisis, she and i have spoken and where possible i have tried to find common ground for our measures with anneliese dodds has just common ground for our measures with anneliese dodds hasjust sat common ground for our measures with anneliese dodds has just sat down and rishi sunak is back on his feet. we will bring you anything dramatic there comes out from the house of comments this afternoon. let's go over the key measures announced. no

centrepiece was actually very close to the beginning of rishi sunak‘s statement. this is thejobs retention bonus, what up to £9 billion, this is £1000 for every employee that a employer brings back from thurlow and employs until january. they say it applies to all four allowed workers, now a million people. there is a stamp duty, which was quite widely trailed, that is going to happen immediately. the fresher it is going to go up from £125,000 to £500,000. a vat cut on hospitality, cut to 5%. that is coming in from next wednesday. then ita coming in from next wednesday. then it a temporary six month cut for vat. then eat out to help out scheme, the latest scheme to get us all to go out and spend some money.

from monday to wednesday, there will be 50% off for everybody to go out to eat at participating businesses, up to eat at participating businesses, up to value of £10 per person. the absolute key part was the retention bonus, this was to mitigate anyjob losses that will occur when you furlough scheme is unwound, starting at the end of this month. rishi sunak confirmed that that scheme was finally wound up by october. your thoughts? well, as you say, the rabbit out of the hat was the bonus for people who keep key workers on. the scheme had been trialled was 2 billion, this is 9 million, i will be amazed if they actually shout at 9 million, it is a huge calculation, everyone on furlough gets £1000. the calculation of business owners will be as follows. almost 15% infant... de

they want to pay all of that plus... in order to collect their bonus in january? that will be the issue facing this. it will all depend on demand for their businesses and that is what it is trying to stimulate with the other message for the vat cut and also the early bird special for monday to wednesday if you're eating out, very interesting that booze doesn't seem to be included in that, maybe you will see a lot of pubs that don't serve food will start selling it very quickly. as the scale of it going to be enough? we have had predictions from some economists and a report out last month that was looking at something in the region of 4.5 million people unemployed, the sorts of figures we have not seen for decades. unemployed, the sorts of figures we have not seen for decadeslj unemployed, the sorts of figures we have not seen for decades. i think at this stage, frankly, nobody can be sure of that. there are absolutely no way of knowing because the animal spirits of the economy, how people behave, how people get

back to normal or not after this extraordinary period of history but it isa extraordinary period of history but it is a very significant amount of money up to £30 billion that may not all be spent as allen says quite rightly but basically the chancellor has announce potentially another £30 billion to try to stimulate the economy over billion to try to stimulate the economy over the coming months, and thatis economy over the coming months, and that is a significant amount of cash. but we just cannot know, and governmentjust cash. but we just cannot know, and government just cannot know, cash. but we just cannot know, and governmentjust cannot know, whether it will be enough to stop us returning to that kind of level of mass unemployment, and of course, thatis mass unemployment, and of course, that is why politically this is such a worry for the government and the opposition and people watching now. it is hard to imagine that all of the 9 million people who have been an taxpayer subsidised wages the la st an taxpayer subsidised wages the last few months are going to be able to return to theirjobs and anything like the same kind of way.|j to return to theirjobs and anything like the same kind of way. i mean, it is interesting because the chancellor said no one will be left without hope and he focused a lot of his rhetoric and the policy is to go with it on young people, because he feels that they are the ones, the 16 to 24—year—old who are going to be

hit hardest because i suppose there isa hit hardest because i suppose there is a sense that particularly in the industries and sectors that employ them like hospitality, like leisure and tourism, but they may be the ones that are let go. and that is quite the promise to make. i mean, thatis quite the promise to make. i mean, that is in an enormous promise to make an even during this emergency period where the government has been spending money, as one tory mp said, like a drug sale on the show, some people in this period have already been left behind. not everybody are qualified for those extremely generous massive schemes but some people are already left out. it is quite a promise to make to say that no one will be left out in the coming period when we know that jobs are already disappearing and if you think of the scale of what they're trying to promise with his kick starter scheme as they say up to maybe 300,000 young people, well some people in the hospitality sector believe that already many more jobs then that have already disappeared and i think where you see some frustration amongst tory mps already is that the scale of this potential moment could have,

some of them believe, led to a genuinely, sort of imaginative, transformative set of measures coming out from this government and lam not coming out from this government and i am not sure that what we have seen, major though it is, will really match up to this moment. he said he will return of course, if needed, which he did with a furlough scheme, although he has left himself a bit of wiggle room, hasn't he? although i think she has basically killed off any idea that the furlough scheme will be extended and i think furlough scheme will be extended and ithinka furlough scheme will be extended and i think a lot of people were worried about that. but it in context, 300,000 new workers. hospitality uk reckon that 500,000 will lose their jobs even if everything on the easing of lockdown goes 0k and don't forget you have... hundred thousand couege forget you have... hundred thousand college leavers coming down the track over the summer period so the challenge is enormous but hold on to work tilljanuary, that is the rabbit out of a hat. pauljohnson is with us from the institute for

fiscal studies. 0n with us from the institute for fiscal studies. on that sort of centre piece on thatjobs retention bonus, will it be enough for employers to hold onto their employees rather than making them redundant when they come at a fellow? well, i think the first thing that saying is it is very generous indeed to the employers of the large number of people who are already out of furlough because the chancellor has been clear that this applies to anyone who has been on furlough at any point, and so they will be quite a lot of what you might think of is very generous indeed to the employers of the large numberof indeed to the employers of the large number of people who are already out of furlough because the chancellor has been clear that this applies to anyone who has been on furlough at anyone who has been on furlough at any point, and so they will be quite any point, and so they will be quite a lot of what you might think there's dead weight a lot of this money will go to people who would have been in work are employees who would have been in work anyway. the second point is that you only have to be paying your employees £520 a month to qualify for the full thousand pounds at the ends, £520 a month is obviously not very much at all, so there is certainly an incentive to bring people back on a very part—time of a very low wage basis in order to get it. it certainly won't cost, i don't think, the full 9 billion that the chancellor was talking about what it

clearly is a very big and expensive addition to the fellow policy encouraging employers to try to hold onto people, whether would be effective for probably a relatively small number of the 9 millionjobs for many employers it won't be enough to make the difference, they won't be able to afford to pay the extra pay, and for many they would have brought them back anyway, so rather like the furlough scheme itself, it is a pretty expensive, pretty broadbrush, pretty big scheme which will have some effect but less effect than you would normally expect for a policy that they had. right. when it comes to extent he divided up the policies he was talking about today very much about job attention and we talking about job attention and we talking about job stimulation a moment but on tax cuts stimulating the economy trying to persuade consumers to go out and spend what did you make of some of

the things he mentioned? well, the big one of courses... well, there are big one of courses... well, there a re two big one of courses... well, there are two big ones, one is a reduction to the 85% on eating out, hospitality and tourist attractions and so on. —— reduction to 5% i guess the big questionnaire is given that social distancing is currently being applied in these areas to what extent is that the problem of not enough people going in given that we have got probably less than half the capacity we had before lockdown, and if that is a problem then this might well help, there is problem or that there will be a lot of venues that simply can't take as many peoples wa nt simply can't take as many peoples want to comment because they have got less space? and then a policy like that will be significantly less helpful, but it is clearly a sector that need some support, slightly odd, anyway, that, you know, a couple of weeks ago we were banned from going and now in august we are going to be bribed to be going through the £10 vouchers, so it is a very sharp change in policy indeed.

the other tax cut, big tax cut you are talking about comedy getting rid of stamp duty on property transactions under £500,000, i would much rather he had just said get rid of stamp duty forever altogether, but he has got rid of it on some transactions for the next nine months or so. i think that will help the housing market, it will bring some activity forward and we know that helping the housing market helps consumer demand in all sorts of... in all sorts of ways, so the big issue there is, he said it will run out next march, we don't know what state the economy of the housing market will be a next match, it is the sort of thing you can imagine might get extended if we are still in a trough at that point. right. | still in a trough at that point. right. i mean, the question is about the man because labour‘s anneliese dodds when she split up, it is difficult because for them to respond to measures that they have only just heard respond to measures that they have onlyjust heard on much of what she did the same response was about the test track and trace system and if that isn't in place foamy people's mind and people don't have to

confidence then they won't trust it to go out and spend the bribe that johnson actually talked about because in the end that is going to because in the end that is going to be key. if consumers are confident they are not going to go out and spend. indeed, and that is what is so spend. indeed, and that is what is so odd about this situation because many of the measures we have heard about are quite standard is responses from this government in this kind of situation but this is anything but a normal situation but we anything but a normal situation but we have plenty of people who have been at home, pretty well paid through the furlough scheme, even people who have carried on working but working from home who have had no change to their financial circumstances but of course they have stopped spending and one treasury minister said to me last week that this was their main problem in designing all this because theyjust problem in designing all this because they just cannot problem in designing all this because theyjust cannot in any way because theyjust cannot in any way be confident about predicting the timing, orthe be confident about predicting the timing, or the scale, be confident about predicting the timing, orthe scale, of be confident about predicting the timing, or the scale, of the re cove ry. timing, or the scale, of the recovery. and therefore, i think there is a sense, although this is big stuff today, i think there is a bit of a sense that they have held back some potentially, sort of, enormous bazookas are much more

radical ideas that they may need to return to in the autumn, and i've got one of the most telling lines, actually, from rishi sunak was that this is our plan for now, it is the next, not the last thing that we will have to do. basically in mission that he is going to have to be back in probably finding more ways to pour more cash into the economy but i think there was a bit ofan economy but i think there was a bit of an absence from him and anneliese dodds about the kind of restrictions that coronaviruses put all of this. that of course is what has created the situation and it is interesting he didn't really mention it very much. 0ne senior tory mp said to me la st much. 0ne senior tory mp said to me last night that what they really wa nt last night that what they really want to see, forget about all the economic measures, but a change in the government advice from same work from home as possible to saying go to work as long as it is safe because until it is changed but is really ha rd because until it is changed but is really hard to see the city a cut ce ntre really hard to see the city a cut centre economy is going back to anything like normal. centre economy is going back to anything like normallj centre economy is going back to anything like normal. i think there isa anything like normal. i think there is a very good point that paul johnson makes there. the reason people are not going into, for example, pizza places is not because they think the pizza is 15% too

expensive and therefore you'll get the benefit there, they're not going because they don't feel comfortable doing it. most of this vat cut, some of it may be passed along to consumers. i suspect a lot of it will be taken by the business owners to try and, you know, put their margins because they feel they have got there until that hangs and don't forget there were a lot of people out there who are not included in all this will be heartbroken today that there was nothing them, for example same directors of limited companies people who started a job at the wrong sort of hand and ski freelancers. people who fell between the gaps of the existing schemes. was i going to be an answer there? no. monetary policy of the bank of england saying that he felt that the recovery had been faster so far that he thought, admittedly with big caveats, what you make of that today? we are clearly going to have some part of a v shaped recovery in the sense that we went down very

fa st the sense that we went down very fast and we will come up