Rishi Sunak said coronavirus has caused one of the “largest, most comprehensive and sustained economic shocks this country has ever faced”. He added that the measures to support the economy amounted to £65 billion over this year and next, taking the total Government support to £407 billion over that period. Here are the businesses in Leeds that will be welcoming this extra help which was unveiled in the 2021 Budget:
7. Tourism
The 5% reduced rate of VAT for tourism will be extended for six months to the end of September - which will support holiday companies like Leeds-based Jet2.
8. Fuel duty
The planned increase in fuel duty is cancelled which will work in favour of Leeds taxi firms and drivers.
9. Nail and beauty salons
Beauty salons are eligible for the higher rate (up to £18,000) of the 'restart grant' which will start in April to help businesses reopen, with £5billion of funding awarded to businesses.
10. Theatres
Rishi Sunak is preparing to hand out £408 million to help museums, theatres and galleries in England to reopen once coronavirus restrictions start to ease in the coming months. The Government previously announced a £1.57 billion Culture Recovery Fund to save institutions in peril as a result of the global pandemic. Many theatres have not been able to open their doors since March 2020. Pictured is Leeds Playhouse.