Britain to announce jobs, housing boost for coronavirus-hit economy

Britain is set to announce measures to promote youth employment and stimulate the housing market on Wednesday, as it braces for the severe economic impact of the coronavirus pandemic.

Chancellor of the Exchequer, Rishi Sunak, is expected to announce a job scheme for people aged between 16 and 24, and reduce tax on house sales.

Sunak also pledged some 3 billion pounds (3.8 billion dollars) for improving energy efficiency in homes and public buildings.

Recently, Prime Minister Boris Johnson promised to spend 5 billion pounds on infrastructure projects and launch a 12-billion-pound house-building programme to kick-start Britain’s economic recovery.

ALSO READ: Kanye West breaks ranks with Trump, vows to win presidential race

“The 2-billion-pound jobs scheme will involve the government paying minimum wages for up to 300,000 young people hired by firms for six months from August.

“The move will be part of a series of targeted measures to shore up the jobs market and boost confidence in Britain’s economy as it emerges from the coronavirus crisis,’’ the Financial Times reported.

Johnson said he wants to “build back better” to help Britain recover.

He said that the government spending programme will also “tackle this country’s great unresolved challenges of the last three decades.’’

(dpa/NAN)

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

Magu’s probe creates uncertainty in EFCC
AS the Justice Ayo Salami-led panel probing allegations against the acting chairman of the Economic and Financial times Commission (EFCC), Ibrahim Magu, commenced its second day of sitting inside the State House Conference entre, Abuja, on Tuesday, there appeared to be uncertainty over the leadership of the commission… Read Full Story

774,000 jobs: Keyamo again disagrees with Senate as Ngige apologises
MINISTER of State for Labour and  Employment, Mr Festus Keyamo, says the constitution empowers his office to supervise the execution of the Special Public Works Programme of the Federal Government. Kayano made the admission in an interview with newsmen after the Senate Committee on Labour called for a new… Read Full Story

You might also like
Comments

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More