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UK sets out plan to boost economy amid coronavirus hit

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LONDON (Reuters) – British finance minister Rishi Sunak warned of hardship ahead on Wednesday as he set out plans to protect jobs and limit the economic impact of the coronavirus.

Britain’s Chancellor of the Exchequer Rishi Sunak reacts as he leaves Downing Street, in London, Britain July 8, 2020. REUTERS/Hannah Mckay
Below are highlights of Sunak’s speech to parliament.

Job retention bonus

“We’re introducing a new policy to reward and incentivise employers who successfully bring furloughed staff back – a new Jobs Retention Bonus.”

“If you’re an employer and you bring back someone who was furloughed – and continuously employ them through to January – we’ll pay you a 1,000 pound bonus per employee.”

“For businesses to get the bonus, the employee must be paid at least 520 pounds on average, in each month from November to the end of January.”

“If employers bring back all nine million people who have been on furlough, this would be a 9 billion pound policy to retain people in work. Our message to business is clear: if you stand by your workers, we will stand by you

Kickstart scheme

“The Kickstart Scheme will directly pay employers to create new jobs for any 16 to 24-year-old at risk of long-term unemployment.”

“I’m making available an initial 2 billion pounds; enough to fund hundreds of thousands of jobs.

“And I commit today: there will be no cap on the number of places available.”

Eat out discount

“For the month of August, we will give everyone in the country an Eat Out to Help Out discount. Meals eaten at any participating business, Monday to Wednesday, will be 50% off, up to a maximum discount of £10 per head for everyone, including children.”

“Each week in August, businesses can then claim the money back, with the funds in their bank account within 5 working days.”

Stamp duty property tax

“I have decided today to cut stamp duty.

Right now, there is no stamp duty on transactions below £125,000. Today, I am increasing the threshold to half a million pounds.”

“This will be a temporary cut running until 31st March 2021. And, as is always the case, these changes to stamp duty will take effect immediately.”

Sales tax VAT

“At the moment, VAT on hospitality and tourism is charged at 20%. So I’ve decided, for the next six months, to cut VAT on food, accommodation and attractions.”

“Eat-in or hot takeaway food from restaurants, cafes and pubs; Accommodation in hotels, B&Bs, campsites and caravan sites; Attractions like cinemas, theme parks and zoos; All these and more will see VAT reduced, from next Wednesday until January 12th, from 20% to 5%.”

Green homes grant

“I’m announcing today a new, 2 billion pound Green Homes Grant. From September, homeowners and landlords will be able to apply for vouchers to make their homes more energy efficient and create local jobs”

Furlough scheme

“Leaving the furlough scheme open forever gives people false hope that it will always be possible to return to the jobs they had before. And the longer people are on furlough, the more likely it is their skills could fade, and they will find it harder to get new opportunities.

“It is in no-one’s long term interests for the scheme to continue forever.”

Department of work and pensions

“I’m investing an extra 1.2 billion pounds in DWP, to support millions of people back to work”

Goal of plan

“Our plan has a clear goal: to protect, support and create jobs. It will give businesses the confidence to retain and hire. To create jobs in every part of our country. To give young people a better start. To give people everywhere the opportunity of a fresh start.”

Budget

“I can tell the House we will produce a Budget and Spending Review in the autumn. And we will deal, too, with the challenges facing our public finances. Over the medium-term, we must, and we will, put our public finances back on a sustainable footing.”

Reporting and photo: Reuters

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Bestbuy Maldives, Atmosphere Core elevate chef training with Michelin-star masterclass

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Bestbuy Maldives (BBM) brought together 100 chefs from leading resorts and restaurants across the country on 24 November for an exclusive culinary masterclass led by Italian One-Michelin-Star Chef Pasquale Palamaro. Held at Hulhule Island Hotel (HIH), the full-house session marked a key highlight of the ongoing “Mediterranean Soul, Maldivian Heart” culinary series presented by Atmosphere Hotels & Resorts in collaboration with BBM.

The masterclass formed the Malé City chapter of the broader programme, which features a lineup of events hosted at RAAYA by Atmosphere and VARU by Atmosphere throughout November 2025. The HIH masterclass served as a platform for professional development, skill exchange, and hands-on learning for chefs from some of the Maldives’ most distinguished culinary teams.

Chef Pasquale, celebrated for his work at Indaco Restaurant in Amalfi, guided participating chefs through a series of live demonstrations that reflected his signature philosophy—one that emphasises intuition, simplicity, and a deep respect for natural ingredients.

“Cooking, to me, is a dialogue with nature — an art of transforming simplicity into beauty. Bringing Indaco’s spirit to the Maldives is an opportunity to merge two coasts and two cultures through taste, technique, and emotion,” he shared during the programme.

Participants explored Mediterranean-inspired methods adapted to Maldivian produce, with Chef Pasquale showcasing dishes rooted in coastal heritage and contemporary craftsmanship. The session also encouraged discussion around ingredient integrity, sustainability-led cooking, and the evolving expectations of today’s luxury diners.

The fully subscribed masterclass reaffirmed BBM’s long-running commitment to cultivating professional excellence within the Maldives’ hospitality sector.

As the authorised distributor of globally renowned culinary and F&B brands, BBM has built a reputation for its Masterclass Series, which brings international expertise to local professionals through practical workshops and high-level training. This latest edition added a Michelin-starred perspective to the growing body of knowledge BBM continues to nurture across the industry.

Ali Afrah Hassan, Head – Human Resources, Administration & Corporate Affairs at BBM, highlighted the importance of consistent capacity building in the sector.

“This masterclass reflects our ongoing commitment to strengthening the skills of the Maldivian culinary community. By creating opportunities for chefs to learn directly from international experts, we help broaden professional exposure and support the industry’s growth. BBM will continue to invest in platforms that uplift local talent and contribute to raising the overall standard of hospitality in the Maldives,” he said.

The masterclass follows two immersive days at RAAYA by Atmosphere earlier in the month, where guests joined farm experiences, tasting sessions, and a hands-on workshop before a five-course dinner curated by Chef Pasquale. The series will continue with a 4-Hands Dinner at Kaagé on 27 November and a masterclass with a five-course dinner at NÜ on 28 November at VARU by Atmosphere.

Anupam Banerjee, Vice President, Food & Beverage at Atmosphere Core, emphasised how the collaboration bridges traditions and culinary ideologies.

“All our island resorts have long been recognised for their culinary offerings,” he noted. “Through Chef Pasquale’s artistry and our island-inspired ethos, we are crafting an evocative dialogue between Mediterranean and Maldivian gastronomies that not only captivates the palate but also champions environmental stewardship and celebrates the cultural richness of both regions.”

For attending chefs, the session offered more than demonstrations—it provided the rare opportunity to learn directly from a Michelin-starred figure whose approach blends innovation with a respect for locality. Many participants described the workshop as an opportunity to refine technique, discover new applications for familiar ingredients, and build valuable connections within the professional community.

With strong engagement and enthusiastic feedback from attendees, the masterclass stands as another milestone in BBM’s long-standing role in elevating culinary standards in the Maldives.

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2 decades of culinary excellence: BBM’s founding legacy with Hotel Asia continues in 2025

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Hotel Asia Exhibition and International Culinary Challenge is referred to be the hospitality industry event in the Maldives. In this year’s Culinary Challenge (19 to 22 October 2025) comprising competitions over 20 categories, most will take place at the Faculty of Hospitality and Tourism Studies, Maldives National University, and some at the Synthetic Track, Hulhumalé.

A Founding Partnership that Endures

Since the very first edition in 2001, Bestbuy Maldives (BBM) has played a central role in shaping the International Culinary Challenge into the Maldives’ most prestigious culinary platform. The event has become a cornerstone for professional development, bringing together chefs from across the Maldives to compete, learn, and showcase their craft.

BBM and their associated Principals sponsor an overwhelming majority of categories. “From the beginning, our goal has been to create opportunities for Maldivian chefs to rise to global standards. This partnership has grown with the industry itself,” said A.V.S. Subrahmanyam, Chief Operating Officer of BBM.

Nurturing Local Talent

BBM’s contribution extends beyond sponsorship. The company has built a long-term system for recognizing and developing local culinary talent.

  • BBM Chairman’s Trophy for the Best Maldivian Competitor.
  • Most Promising Young Chef Award for emerging talent.
  • Global exposure programs for Maldivian chefs through sponsored participation in international events.
  • Pro-bono Masterclasses with world-renowned chefs to encourage learning and innovation.

Investing in the Future of Hospitality

Through initiatives such as Building Young Talent, BBM continues to mentor aspiring professionals and support the next generation of chefs. The company also promotes inclusivity by sponsoring opportunities for female and young chefs to gain international exposure.

BBM’s industry partnerships include its role as Title Sponsor of the Hotelier Maldives Awards, celebrating excellence across the Maldivian hospitality sector.

Proud Sponsors of Culinary Excellence

In 2025, BBM and its partner brands proudly sponsor 14 competition categories and 8 Main Awards, further strengthening their role in the development of culinary arts in the Maldives. Categories include Decorated Cake, Artistic Showpiece, Bread and Pastry Display, Three Desserts (Display), Desserts, Rice Dish, Asian Noodles, Team Challenge, Maldivian Dish, Creative Sandwich, Young Chef, Tea Challenge, tapas/finger food, and Iced Mocktail.

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Bestbuy Maldives, MNU forge partnership to advance hospitality education

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The Maldives National University – Faculty of Hospitality and Tourism Studies (MNU-FHTS) and Bestbuy Maldives (BBM) have officially signed a Memorandum of Understanding (MoU) to strengthen industry-academic collaboration and advance hospitality education in the Maldives.

The MoU was signed by Dr Aishath Shehenaz Adam, Vice Chancellor of MNU, and Ismail Hilmy, Chairman and Managing Director of BBM, during a ceremony attended by the university’s Chancellor Dr Mahmood Shaugee, senior management, and representatives from both organisations.

This partnership marks a significant milestone in developing a state-of-the-art Food and Beverage Practical Demonstration Kitchen at MNU-FHTS. BBM will support the upgrading of the existing Garde Manger kitchen and classrooms, contributing financially and materially to create a modern, industry-standard learning environment for future hospitality professionals.

Beyond infrastructure, the collaboration will extend to academic and training support, research and innovation in culinary arts, community engagement, and professional networking opportunities, ensuring that students gain practical, real-world experience aligned with industry expectations.

Highlighting the broader purpose of this partnership, BBM stated that, “This is a significant step in the direction of BBM’s vision involving hospitality industry outreach in the Maldives — because tomorrows start today. Initially, we will set up a world-class model kitchen that will be suitable for masterclasses and hands-on training for students; and also for product demonstrations, masterclasses, and interaction with groups of customers.”

Speaking at the ceremony, representatives from both institutions emphasised their shared vision to promote excellence in education, innovation, and human capital development in the Maldivian hospitality sector. This partnership underscores BBM’s continued commitment to supporting education and industry growth, and MNU-FHTS’s mission to bridge the gap between academia and industry — nurturing the next generation of hospitality leaders in the Maldives.

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