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Chancellor Rishi Sunak delivered his summer economic update to the House of Commons and warned the UK is facing “profound economic challenges” as a result of the pandemic.

The Treasury previously played down this being a ‘July Budget’ or a ‘mini-Budget’, insisting no economic forecasts or tax decisions will be issued. Those are all on hold until what looks like a whopper of an Autumn Budget and subsequent spending review.

During the announcement Sunak told MPs: “People need to know that although hardship lies ahead, no one will be left without hope.”

He vowed to turn the UK’s national recovery “into millions of stories of personal renewal” as he unveiled a £30bn package of measures.

These measures included:

 

Blog via knowleswarwick.com