The British chancellor of the exchequer is set to announce more than £500 million ($677m) in new funding to help people back into work, as he seeks to stem the continuing fallout of the coronavirus pandemic.
Rishi Sunak is said to be shifting the focus to getting people into new or better jobs, as the UK government comes under sustained pressure over a major squeeze on living standards.
He will use his speech at the Conservative Party conference in Manchester, northern England, on Monday to set out his vision of shaping the economy around “the forces of science, technology and imagination”.
Mr Sunak will pledge to “make the United Kingdom the most exciting place on the planet” through enhanced infrastructure, improved skills and scientific investment.
He will announce the new funding will be used to help workers leaving the government's furlough scheme, which supported jobs during the pandemic, and unemployed over-50s back into work, while the Kickstart scheme for young people will also be extended.
But he has resisted extending all extra support provided during the pandemic, with the furlough scheme ending and the £20-a-week uplift to Universal Credit benefits falling away.
The opposition Labour Party said the schemes “will do nothing to compensate” for the tax rises and the cost of living crisis, but businesses welcomed the “pivoting from furlough to economic recovery”.
New warnings of hardship have also been issued over the rise of the energy price cap and price rises in shops.
Household budgets will sustain a further blow next April when national insurance contributions rise by 1.25 per cent to help fund the National Health Service and social care.
Ahead of his first in-person speech at the conference as chancellor, Mr Sunak said he was “ready to double-down” on his promise to “do whatever it takes” to recover from Covid-19.
He said the furlough scheme protected 11 million jobs and the UK was “experiencing one of the strongest and fastest recoveries of any major economy" in the world.
“But the job is not done yet and I want to make sure our economy is fit for the future, and that means providing the support and skills people need to get into work and get on in life.”
The Kickstart scheme, which helps young people on Universal Credit, will be extended to March next year under the measures.
A £3,000 incentive for new apprentices will be extended until the end of January.
People who have come off furlough and are on Universal Credit will also be prioritised for help to find jobs under the “job finding support” scheme, lasting until the end of the year.
The Treasury said more than £500 million of new funding would be used, coming from the education and work and pensions departments. Further details will be set out in the next spending review.
Mr Sunak said the government wanted to pave the way for an economy with higher wages and more people in high skills jobs.
The chancellor of the exchequer said he wanted people to know that “we are throwing literally the kitchen sink at helping them get a new job, new skills, new opportunities”.
Asked about the 1.25p rise in National Insurance for employees, employers and the self-employed, he told Sky News that ministers decided to take the “difficult but, I believe, responsible decision” to plug the black hole in social care funding.
He declined to rule out further tax rises, including council tax, before the end of the year.
Jonathan Reynolds, Labour's work and pensions spokesman, said the government’s struggling plan for jobs had failed to hit its original targets.
"It is not creating the number of jobs needed and has failed to address the supply-chain crisis Britain is experiencing."
Hitting out at the chancellor of the exchequer, he said, “giving himself an extended deadline will do nothing to compensate for the Chancellor’s tax rises, a cost-of-living crisis and cuts to Universal Credit which are set to hammer millions of working families”.
Matthew Fell, chief policy director at the Confederation of British Industry, said businesses would welcome the chancellor’s plan for jobs pivoting from furlough to economic recovery.
“With record vacancies and widespread labour shortages, this package’s success will be measured by its ability to get people back into work," he said.
“Businesses are committed to playing their full part in training and re-skilling the workforce of tomorrow as we move towards a new economy."
Zayed Sustainability Prize
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
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MATCH INFO
Liverpool 0
Stoke City 0
Man of the Match: Erik Pieters (Stoke)
'THE WORST THING YOU CAN EAT'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
The specS: 2018 Toyota Camry
Price: base / as tested: Dh91,000 / Dh114,000
Engine: 3.5-litre V6
Gearbox: Eight-speed automatic
Power: 298hp @ 6,600rpm
Torque: 356Nm @ 4,700rpm
Fuel economy, combined: 7.0L / 100km
THE BIO
Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13
Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier
Favourite place to travel to: Any walkable city. I also love nature and wildlife
What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.
Favorite place to go in the UAE: A quiet beach.
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Mohammed bin Zayed Majlis
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
if you go
The flights
Emirates offer flights to Buenos Aires from Dubai, via Rio De Janeiro from around Dh6,300. emirates.com
Seeing the games
Tangol sell experiences across South America and generally have good access to tickets for most of the big teams in Buenos Aires: Boca Juniors, River Plate, and Independiente. Prices from Dh550 and include pick up and drop off from your hotel in the city. tangol.com
Staying there
Tangol will pick up tourists from any hotel in Buenos Aires, but after the intensity of the game, the Faena makes for tranquil, upmarket accommodation. Doubles from Dh1,110. faena.com
Defence review at a glance
• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”
• Prioritise a shift towards working with AI and autonomous systems
• Invest in the resilience of military space systems.
• Number of active reserves should be increased by 20%
• More F-35 fighter jets required in the next decade
• New “hybrid Navy” with AUKUS submarines and autonomous vessels
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Mercedes-AMG GT 63 S E Performance: the specs
Engine: 4.0-litre twin-turbo V8 plus rear-mounted electric motor
Power: 843hp at N/A rpm
Torque: 1470Nm N/A rpm
Transmission: 9-speed auto
Fuel consumption: 8.6L/100km
On sale: October to December
Price: From Dh875,000 (estimate)
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
Stamp duty timeline
December 2014: Former UK finance minister George Osbourne reforms stamp duty, replacing the slab system with a blended rate scheme, with the top rate increasing to 12 per cent from 10 per cent:
Up to £125,000 - 0%; £125,000 to £250,000 – 2%; £250,000 to £925,000 – 5%; £925,000 to £1.5m: 10%; Over £1.5m – 12%
April 2016: New 3% surcharge applied to any buy-to-let properties or additional homes purchased.
July 2020: Rishi Sunak unveils SDLT holiday, with no tax to pay on the first £500,000, with buyers saving up to £15,000.
March 2021: Mr Sunak decides the fate of SDLT holiday at his March 3 budget, with expectations he will extend the perk unti June.
April 2021: 2% SDLT surcharge added to property transactions made by overseas buyers.
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Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
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Mohammed bin Zayed Majlis
