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Rishi’s Spring booster: Sunak is planning ‘giveaway’ budget next week to inject the UK with a post-lockdown boom after No10’s slow road to freedom – with help for motorists, hospitality firms and the housing market

February 26, 2021 | By Persecution Live | Filed in: Economy.

Rishi Sunak will use a giveaway budget next week to pave the way for a post-lockdown boom.

Help for motorists, hospitality firms and the housing market is expected to be among a string of eye-catching policies.

The Chancellor is set to shelve plans for tax rises, including a threatened 5p increase in fuel duty that would have hit millions of drivers.

He is also poised to announce further VAT and business rate cuts for the hospitality and tourist industries, continue the stamp duty holiday and extend the jobs furlough scheme.

The Mail can reveal Treasury officials are examining even more dramatic plans for a major stimulus to the economy later this year.

This could include vouchers for high street shoppers and lower alcohol duty for restaurants and pubs battered by coronavirus restrictions until early summer.

The latter move would be coupled with higher levies on supermarket booze to help local traders. A return of last summer’s Eat Out to Help Out scheme is another possibility.

Officials are also said to be examining the case for long-term reform of the stamp duty system because of concerns that it distorts the housing market.

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