Welcome measures announced in the UK Government BudgetGeneral News
The extension of the Government’s furlough scheme was among the measures in the UK Government budget yesterday welcomed by Scottish Land & Estates.
In his budget speech, the Chancellor Rishi Sunak announced welcome support for small businesses called for by SLE, including the continuation of the 5% VAT rate for Hospitality and Tourism, which has been extended to 30th September, and an interim 12.5% rate of VAT put in place for another 6 months.
Lindsay Duncan, policy adviser for SLE said:
“There are many positive announcements in the budget to help Scotland’s rural economy.
“The continued furlough support comes as welcome news for Scotland’s landowners and rural businesses, for whom the number one priority over the past year has been to keep their employees in work.
“We are glad to see the continued support for the hospitality and tourism sectors through continuation of the 5% VAT rate. These sectors have been hard hit by the COVID crisis but remain the economic backbone of many of our rural areas.”