The Chancellors Summer Statement – 8th July 2020

Chancellor Rishi Sunak set out a ‘Plan for Jobs’ that will spur the UK’s recovery from the Coronavirus outbreak.

The plan for jobs is the second part of a three-phase plan to secure the UK’s economic recovery from coronavirus. Throughout the pandemic, the UK Government has acted with speed to protect lives and safeguard jobs.

The plan includes raising the threshold where you start paying stamp duty in England and Northern Ireland it is £125,000, or £300,000 for first-time buyers (if buying a property worth less than £500,000). But Chancellor Rishi Sunak has announced that this will be temporarily raised to £500,000 from today (Wednesday 8 July) until 31 March next year in England and Northern Ireland, as part of his economic statement delivered today.

Homeowners and landlords in England will also be able to apply for vouchers from a £2 billion Green Homes Grant scheme this year to pay for green improvements such as loft, wall and floor insulation. Eligible homeowners will be able to use the vouchers to pay for environmentally friendly improvements such as installing loft, floor and wall insulation or double-glazing.

Details of the full statement can be found: