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Summer Statement 2020

On 8 July 2020 Rishi Sunak delivered a Summer Statement announcing new fiscal measures to support the UK in its recovery from the impact of the coronavirus impact. Read initial reactions and analysis from ICAEW's experts.

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ICAEW reaction

Summer Statement serves up jobs-first package
  • Article
  • 08 Jul 2020
9 July 2020: the Chancellor’s Summer Statement put forward a plan for jobs, green investment and a variety of targeted tax cuts, but also signalled a clear intention to wean businesses off government support.
Further fiscal interventions focused on post-furlough future
  • Article
  • 08 Jul 2020
9 July 2020: Chancellor announces £30bn in new measures to support, protect and create jobs, bringing total fiscal interventions to £190bn
Government must scale up green recovery ambitions
  • Article
  • 08 Jul 2020
9 July 2020: ICAEW has welcomed the £3bn green jobs plan announced in the government’s summer statement as a good starting point

ICAEW letters to government

ICAEW Rep 43/20 Frank Haskew letter to FST
  • 30 Jun 2020
  • PDF (251kb)
On 30 June Frank Haskew, Head of ICAEW's Tax Faculty, wrote to Jesse Norman the Financial Secretary to the Treasury ahead of the summer economic update. In the letter he outlines the three priorities ICAEW believes should guide future government policy: stabilising the economy in the short-term, building sustainability into the medium-term recovery plans, and securing the ability of British business to compete internationally in the long-term.