Chancellor Rishi Sunak is reportedly set to deliver a “giveaway” budget next week (March 3).
Among things said to be under consideration is the return of the Eat Out To Help Out scheme.
It was in place last summer and saw Brits enjoy half-price meals if they ate out between Monday and Wednesday.
It’s claimed Sunak may now bring the scheme back to give a boost to the ailing hospitality industry.
What else is Rishi Sunak planning in his ‘giveaway’ budget?
The price of alcohol in pubs, clubs, bars and restaurants could also be cut, the Daily Mail claims.
However, the Chancellor could recoup any potential cut in alcohol duty for pubs with an increase in the charges on alcohol sold in supermarkets and other shops.
This could mean 14p is added to the price of a can of beer in the supermarket.
However, 36p could be knocked off the cost of a pint at the pub.
Free shopping vouchers in budget?
Elsewhere, The Resolution Foundation think tank has urged Sunak to hand out £9 billion in high street shopping vouchers to Brits.
There is broad agreement that the support package has to go hand in hand with the roadmap.
Under the scheme, which some have dubbed Shop Out To Help Out, each adult could be given a £150 voucher to spend on the high street.
The idea is it’ll offer a boost to the high street post-lockdown.
Children would be given a £75 voucher to spend under the proposals.
“These vouchers could be spent in physical non-food retail, where there is more likelihood that consumption is likely to re-bound more slowly than in other services such as pubs and restaurants,” a statement said.
What will Rishi say about the furlough scheme?
The furlough scheme, which is due to end on April 30, is expected to be extended until the end of June, when restrictions end.
It costs the government around £4 billion a month.
“There is broad agreement that the support package has to go hand in hand with the roadmap,” an insider revealed.
“At the moment, the debate is all about jabs, but by the summer it will be about jobs – we need to be ready for that.”
The government is also expected to give the go-ahead to a £20 rise in Universal Credit, which will amount to £1,040 over the course of a year.
Rishi Sunak budget: Tax cuts, stamp duty and the self-employed
There’s also expected to be good news for the self-employed in the “giveaway” budget.
The Chancellor is expected to announce a fourth round of grants of up to £7,500.
Elsewhere, the stamp duty holiday, which ends on March 31, is also expected to be extended.
It’s thought that it could run until June. However, officials are looking at the case for long-term reforms over fears that it “distorts the housing market”.
Meanwhile, plans for a threatened 5pm increase in fuel duty are expected to be temporarily shelved.
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