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Newscast

Sunak’s summer statement

Jul 8, 2020
Economist Stephanie Flanders joins the podcast to discuss Rishi Sunak's economy plan. Burger King and Taylor Wimpey CEOs share their thoughts on the announcements. Topics include VAT cuts, Job Retention Bonus, Kickstart Scheme, sector-specific support, and challenges faced by businesses during the pandemic.
37:09

Podcast summary created with Snipd AI

Quick takeaways

  • Government introducing VAT reduction on restaurant hot food to stimulate consumer spending post-pandemic.
  • Challenges and uncertainties persist in economic recovery post-furlough scheme, necessitating ongoing government evaluation and support.

Deep dives

Government's Economic Response to Pandemic

The podcast discusses Rishi Sunak's summer economic statement focusing on government measures to address the economic impacts of the pandemic. Sunak emphasizes the government's support where needed, highlighting a reduction in VAT on restaurant hot food and a new food discount scheme paying for a 50% discount. The chancellor's approach indicates a shift from traditional conservative spending ideologies to address the current crisis with significant financial support. The podcast delves into the implications of these measures for businesses and consumers during the pandemic.

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