UK will spend billions to boost hospitality sector, but FTSE sinks while Dow climbs

  • 📰 abcnews
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 18%
  • Publisher: 83%

The UK Government announces multi-billion-dollar stimulus for hospitality in an effort to get young people back into work, although British shares fell, even as US markets rose.

Australia Headlines News

Australia Latest News, Australia Headlines

The UK government has unveiled a multi-billion-dollar plan to help young people find jobs as part of a 54 billion pound mini-budget to counter the economic shock from the coronavirus pandemic.

UK Chancellor of the Exchequer Rishi Sunak said the plan will help young people aged between 16 and 24 on social security payments to find a six-month job placement. There was also an immediate cut in stamp duty on house purchases of up to £500,000, which will stay in place until the end of March next year and a 2 billion pound grant for "green homes".Overall, the FTSE 100 came off its early lows and gained slightly as Mr Sunak announced the mini-budget, although it ended down 0.5 per cent at 6,156 points in a volatile session.

The market surge came despite the number of confirmed coronavirus cases in the US surpassing three million, affecting nearly one out of every 100 Americans.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Victorian education sector in jeopardy as UK manoeuvres to fill foreign student gap | Sky News AustraliaSky News host Alan Jones says with Australia's international tourism now 'smashed' our economy is going to lose massive amounts of foreign exchange earnings from tourism and education. \n\nEducation is Victoria’s largest export and the international education sector is worth $12.55 billion dollars. \n\nOverall the education industry in Australia is worth $40 billion and employs $240,000 Australians.\n\nInternational Education Association of Australia CEO Phil Honeywood said due to the lockdown measures in place, 27,000 foreign students studying at Melbourne universities will be stranded overseas.\n\nReferencing new British policies incentivising United Kingdom universities for international students, Mr Honeywood said “our competitor countries are really making hay at our expense”.\n\nCanada and the United Kingdom have opened for international students while Australia remains closed as Victoriam schools and university campuses are struggling to cater for domestic students.\n\nImage: News Corp Australia Some people say that geriatrics are a bit slow. Looks like you aren't up to speed on this one. Most people have been aware of this for some time.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Johnny Depp accuses ex-wife Amber Heard of lying in libel action against UK tabloidThe 57-year-old Pirates of the Caribbean star is suing The Sun's publisher, News Group Newspapers, and its executive editor for libel over an article calling him a 'wife beater'. How many men are in jail now because of false domestic violence claims? We must start locking up false accusers. justiceforjohnnydepp Its obvious she has some loose screws
Source: smh - 🏆 6. / 80 Read more »

'Unthinkable': UK unveils $54 billion stimulus as jobs cliff approachesUnprecedented for a Tory government, chancellor flags discount pub meals and cash bonuses for employers but warns government 'cannot protect every job'. BevanShields Briton of Colour, Rishi Sunak, is an inspiration for humanity of colour, including us Australian Natives, overcoming centuries of white power and white privilege since whites made first contact with Lands of Colour. How did he get to near the top whilst we struggle? BevanShields Spend up champions May as well no one is going to pay the debt off The great reset is upon us BevanShields Maybe countries should stop calling it stimulus because it doesn’t stimulate anything. It’s loss covering and effectively money down the pan.
Source: smh - 🏆 6. / 80 Read more »

'Unthinkable': UK unveils $54 billion stimulus as jobs cliff approachesUnprecedented for a Tory government, chancellor flags discount pub meals and cash bonuses for employers but warns government 'cannot protect every job'. BevanShields Briton of Colour, Rishi Sunak, is an inspiration for humanity of colour, including us Australian Natives, overcoming centuries of white power and white privilege since whites made first contact with Lands of Colour. How did he get to near the top whilst we struggle? BevanShields Spend up champions May as well no one is going to pay the debt off The great reset is upon us BevanShields Maybe countries should stop calling it stimulus because it doesn’t stimulate anything. It’s loss covering and effectively money down the pan.
Source: smh - 🏆 6. / 80 Read more »

Victorian education sector in jeopardy as UK manoeuvres to fill foreign student gap | Sky News AustraliaSky News host Alan Jones says with Australia's international tourism now 'smashed' our economy is going to lose massive amounts of foreign exchange earnings from tourism and education. \n\nEducation is Victoria’s largest export and the international education sector is worth $12.55 billion dollars. \n\nOverall the education industry in Australia is worth $40 billion and employs $240,000 Australians.\n\nInternational Education Association of Australia CEO Phil Honeywood said due to the lockdown measures in place, 27,000 foreign students studying at Melbourne universities will be stranded overseas.\n\nReferencing new British policies incentivising United Kingdom universities for international students, Mr Honeywood said “our competitor countries are really making hay at our expense”.\n\nCanada and the United Kingdom have opened for international students while Australia remains closed as Victoriam schools and university campuses are struggling to cater for domestic students.\n\nImage: News Corp Australia Some people say that geriatrics are a bit slow. Looks like you aren't up to speed on this one. Most people have been aware of this for some time.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Tourism and aviation industry demand govt support | Sky News AustraliaBusiness leaders and unions are demanding urgent support for the tourism and aviation sectors after government data revealed the industry lost almost $6 billion in three months during the pandemic.\n\nInternational tourism spending was down almost $4 billion or more than 27 per cent for the March quarter compared with the same time last year.\n\nThe greatest drop in international visitors came from China after the suspension of flights from the country in February.\n\nDomestic tourism fell about $2 billion or a drop of 10 per cent.\n\nImage: Getty\n\n That’s $6billion still in peoples pockets! No more CorporateWelfare 🐷🐷🐷👹👌👌👌🔥🔥🔥🐲😤🤮🤢🦠🐒👇👇👇🙅‍♂️ That's on top of the Climate Crisis! auspol
Source: SkyNewsAust - 🏆 7. / 78 Read more »