When Boris Johnson announced further lockdown restrictions this week, it was inevitable that Rishi Sunak would again splash taxpayers’ cash. The Chancellor duly delivered this afternoon. But one thing is clear: slowly but surely Sunak is turning the taps off.
The Job Support Scheme, which replaces the furlough scheme, means the government will pay up to 22 per cent of workers’ wages. VAT cuts in hospitality and tourism – two sectors which will inevitably be hit hard by the new rules – were also extended. And firms that took government loans will have more time to pay them back. There is some help, too, for the self employed: a government grant will give those who are earning less than usual up to 20 per cent of their trading profits.
Yet while these announcements appear generous, compared to what came before they are a clear sign that the onus is shifting towards businesses – not the government – footing the bill.
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