As predicted, the phone has been ringing off the hook since the mini Budget unveiled a host of perks to kickstart the economy post-lockdown.
We know you have questions. So we have worked hard to get our heads around what was said – and what it means for you.
1. Everyone gets 50% off in restaurants - between Monday and Wednesday in August.
This is good news for those of you in the hospitality sector. Diners will get 50% off their meal at restaurants across the UK through August in a state-funded discount scheme.
Eat Out to Help Out is designed to boost public confidence and get people out and about again.
What you need to do: Individual firms will register on a government website and apply to claim the money back, based on what they sell. It is for eat-in food only and doesn't apply to takeaways.
Guidance on the Eat Out scheme will be published on July 13 and the portal is due to open for firms to participate on the same day. It will apply to the purchase of food and non-alcoholic drinks up to £10 per person from restaurants, pubs, bars, cafés and similar premises across the UK.
2. Pubs and hotels will be cheaper as VAT is temporarily slashed
In another boost to the hospitality industry, qualifying businesses will see VAT slashed from 20% to 5% on food, accommodation and attractions.
The cut will come into force from July 15 and last until January 12 - making a trip to the pub or a family day out cheaper.
What you need to do: Further guidance is due shortly.
3. Stamp Duty for homebuyers is being slashed - immediately
Right now there is no Stamp Duty on house purchases below £125,000. Today, effective immediately, the government is increasing the threshold to £500,000.
What you need to do: The Stamp Duty cut will take effect from midnight tonight and last until March 31.
4. Bonus for bosses
While he did not extend the government’s furlough scheme beyond October, Rishi Sunak vowed to pay employers £1,000 for every member of staff they keep as the scheme ends.
What you need to do: More detail is expected by the end of July but full guidance is only due in the Autumn.
To qualify, employees must be paid at least £520 a month on average in each month from November to January - the equivalent of the lower earnings limit in National Insurance.
Employers will get a £1,000 bonus if they bring someone back off furlough - and employ them continuously until January. But it is thought there's nothing legally to stop firms claiming the bonus, then making people redundant on February 1.
5. Six-month job placements for young people
The government has set aside £2billion to subsidise thousands of six-month work placements.
Under the “kick-start” scheme 16 to 24-year-olds on Universal Credit will be eligible for six-month placements with the state covering 100% of the minimum wage for 25 hours a week.
What you need to do: Fuller guidance is promised towards the end of July or start of August to explain how the Kick-start scheme will work and how employers – as well as the young people they offer placement to - can benefit.
6. A bonus for companies who employ trainees
On top of the Kick-start scheme, more than £100 million is to be invested in traineeships for 18-24 year olds.
The government will introduce a temporary payment of £2,000 to employers in England for each new apprentice they hire aged under 25.
If the apprentice is over 25 the bonus will be £1,500.
What you need to do: This bonus applies from 1 August 2020 to 31 January 2021. There is more information to come on how to apply.
7. Homeowners helped to make houses greener
Home owners will get £2billion of vouchers to insulate homes as part of Chancellor Rishi Sunak ’s plans to create more than 100,000 green jobs.
The Green Homes Grant scheme will provide extra work for plumbers, builders and tradesmen and help the Covid-hit economy recover.
Homeowners will be able to spend the cash on loft, wall and floor insulation, eco-friendly boilers, heat pumps, double or triple-glazed windows, low-energy lighting and energy-efficient doors.
What you need to do: The scheme will go live in September.
8. Green jobs in construction, engineering and design
Some £1bn will be spent on 'greening up' public buildings including schools, hospitals and social housing.
And there'll be a £50 million pilot scheme to retrofit social housing with heat pumps, insulation and double glazing, to make them more environmentally friendly.
What you need to do: This will be great news for the built environment sector which is set to receive more guidance on work and tenders in this area in due course.
A final word from us
As we receive further information on each of the promises made, we will work with businesses in the hospitality sectors, those seeking to employ new staff or re-introduce furloughed workers and those in the built environment industries to benefit.
As always, we will keep you informed as we hear more.