Rishi Sunak announces economic update

On Wednesday 8th July, the Chancellor Rishi Sunak will be making a Summer statement which has been called the ‘mini budget’. The announcement will include plans to help the UK’s economic recovery. The immediate focus will be jobs, jobs, jobs with many big names announcing redundancies such as Upper Crust, easyJet and Airbus.

We expect a big focus on supporting Job Centres and the National Careers Service to help young people into work and to provide extra training. There may also be a cash boost for the arts sector and support for jobs in growing industries such as the green sector.

The next annual budget is still scheduled for the Autumn which will give the Chancellor time to review the UK economy and propose other plans to provide support and of course how this will all be paid back.

We will update you on the changes as they are announced tomorrow.