Boris Johnson to fire up UK economy with ‘Great Recovery Bill’ as Britain eases out of lockdown

BORIS Johnson is planning to fire up the economy with a ‘Great Recovery Bill’ as Britain eases out of coronavirus lockdown.

The PM has told ministers to come up with ideas to help companies adapt to the chaos caused by the covid-19 pandemic.

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Meanwhile government officials have also been instructed to ensure there are different ways key services can operate under social distancing, the Daily Mail reports.

It comes as the government plans to gradually ease the strict lockdown measures after more than two months, with non-essential shops re-opening on June 15.

Mr Johnson’s scheme could include planning reforms – with ministers believing new housing, roads and broadband key to the country bouncing back.

No10 wants to cut red tape where possible to help the hospitality and retail sectors badly impacted by the lockdown.

Under the new plans, local authorities fees will be ditched for cafes and restaurants who want to seat diners outside.

A Government source said: “Departments are being asked to identify the things they need to keep services going, but also the changes that would free up the economy and get business moving again once we start to open up.

“The idea is to then put them all into one big piece of legislation that helps get the recovery going.”

MINI-BUDGET

The Great Recovery Bill will be announced alongside a mini-budget in July.

Chancellor Rishi Sunak is expected to include tax cuts to fuel consumer spending and business investment in his statement.

He hopes to save two million jobs at risk from the coronavirus crisis..

The Chancellor wants to retain furloughed workers by retraining them, as well as splashing cash on British tech firms.

There will also be extra spending on infrastructure and a government bailout for struggling companies, if they can contribute to Britain “rising again over the next 10 to 15 years”, a source told the Times.

It is seen as the start of a “one-two punch” strategy to get Britain back on its feet after the long draconian measures of lockdown.

It comes after he warned last month that two million jobs would be lost unless pubs and restaurants, shut on March 23, are reopened.

The PM has said he hopes pubs, restaurants and hotels may all re-open later this month.

Mr Sunak is also planning a National Insurance holiday for employers taking on new staff in an effort to give the economy a much-needed boost.

Employers currently pay 13.8 per cent towards employees' national insurance if they earn over a certain variable threshold - for most, it's if you're paid more than £169.01 a month.

But the Treasury is thought to be considering waiving this for a period for firms taking on new employees, it has been reported.

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