Business

UK sets out plan to boost economy amid coronavirus hit

Published

4 years ago

July 9, 2020

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

Events

Maldives Association of Tourism Industry (MATI) holds its 34th Annual General Meeting

Published

2 months ago

February 20, 2024

Maldives Insider

The Maldives Association of Tourism Industry (MATI) held its 34th Annual General Meeting at Kurumba Maldives today, with a total of 100 members in attendance.

The day’s events began with a welcome address from the Chairman of MATI, Mr. Mohamed Umar, who also presided over the session. The agenda included an address from the Secretary General, Mr. Ahmed Nazeer, the review and approval of the minutes of the 33rd AGM, the review and adoption of the Annual Report and Financial Reports for 2023, the approval of the 2024 budget, the appointment of auditors for 2024, the welcoming of new members and election of executive board members to the two vacant positions (by-election).

In the member discussion session, the following topics were covered: the Government’s aim to reach net-zero emissions by 2023 and renewable energy generation in the Tourism Industry, new terminal of Velana International Airport and developments, employment challenges, the Industrial Relations Act and trade unions, environmental conservation and the significance of creating and executing efficient management plans for protected areas like the South Ari Marine Protected Area (SAMPA).

Following the official proceedings, the Minister of Tourism Hon. Ibrahim Faisal and the Minister of Economic Development and Trade Hon. Mohamed Saeed joined the forum. The Ministers provided remarks and engaged in a Member Q&A session. This session provided members with the chance to directly engage with the Ministers and delve into crucial industry topics. The queries focused on the Economic Outlook, forthcoming development plans and immediate challenges and issues affecting the Tourism Industry.

A video presentation was also showcased that delved into the extensive work undertaken by MATI in 2023. The video also touched upon the Tourism Industry’s performance over the past 5 years, as well as the current and projected human resource capacity of the sector.

In his closing remarks, the Secretary General highlighted the importance of collaborative efforts in addressing industry challenges and called for greater unison amongst industry stakeholders, ending with an acknowledgement of the promising start to the year in terms of arrivals.

Executive Board Members elected to the 2 vacant positions (by-election):

Ibrahim Shareef, CEO and Managing Director of Maldives Airports Company Limited
Renato De Olivera, General Manager of The Ritz-Carlton Maldives, Fari Islands and representative of Marriott International

Business

Unlocking power of travel storytelling at Travel Creators Exchange 2024

Published

3 months ago

January 30, 2024

m@ldives

Join us for the Travel Creators Exchange 2024, taking place on February 1, 2024, at the Hotel Jen in Male’, Maldives.

This dynamic event provides a platform for networking and collaboration among Maldives-based travel creators, fostering connections, idea-sharing, and the establishment of lasting partnerships to expand opportunities and monetise content.

Our lineup of distinguished speakers includes:

Zihuny Rasheed, Deputy Managing Director of MMPRC, will present on “Power of Digital Storytelling: Collaborative Strategies for Destination Promotion.” MMPRC actively markets the Maldives globally, utilising a comprehensive approach that includes travel trade shows, roadshows, digital marketing, and more.
Amjad Thaufeeg, Commercial Director of Kuda Villingili Maldives Resort, brings over 23 years of hospitality industry experience. He will discuss “The Role of Content in Tourism Marketing,” drawing on expertise in revenue, customer service, sales & marketing, and human capital development.
Suresh Dissanayake, Assistant Vice President of Sales & Marketing of Heritance Aarah & Adaaran Resorts, with nearly two decades of experience, will shed light on “What does a Sales and Marketing Director Do?” He brings extensive luxury hospitality experience and a proven track record in sales, distribution, and marketing.
Vishal Amir Ahmed, a versatile cinematographer and content creator, will explore “Who is a Content Creator.” Currently associated with Various Arts Studio, he specialises in providing multimedia solutions to various clients.

Organised by Maldives Insider, Maldives Virtual Tour, Travel Trade Maldives, and Hotelier Maldives, this collaborative effort aims to empower Maldives-based travel content creators and elevate the Maldives as a premier destination for captivating travel storytelling.

Events

Acclaimed contemporary artist Ana Pušica explores perpetuality and community at Patina Maldives

Published

4 months ago

January 3, 2024

Maldives Insider

Ana Pušica Kramer, an internationally acclaimed contemporary artist, joins Patina Maldives for an exclusive art residency in the now infamous Fari Art Atelier. From January 22 to February 22, 2024, Ana Pušica will grace the shores of the Fari Islands, weaving a vibrant narrative of colour and emotion across her larger than-life canvases.

Her artistry transcends boundaries, melding abstraction and figuration into awe-inspiring masterpieces. Having exhibited globally, from New York to Beijing, Ana’s paintings are a physical, intuitive act rooted in movement. Described as a “beautiful fluorescent thunderstorm,” Ana’s art explores light and colour, capturing the energy of life itself.

The Fari Art Atelier which has previously hosted the likes of Daniel Arsham, Chris Stamp and David Nott, will be transformed into Ana’s studio and gallery showcasing her enthralling artworks—a mesmerising journey through poetry, memory, and the vibrant interplay of colour. Guests at Patina are invited to delve into Ana’s world, where each stroke reveals layers of meaning, evoking sensations of intense lightness and boundless interpretation.

At Patina Maldives, Ana will immerse herself in a month-long residency, inviting the Patina Malidves community or guests and team to witness her artistic fervour firsthand. Guests will have the rare opportunity not only to observe her creative process but also to engage with and create art alongside this luminary.

Experience artistry at its most exclusive

Art Exhibition
Experience Ana’s captivating exploration of colour and emotion in her spellbinding artworks displayed at the Fari Atelier.

Art Workshops: Message in a Bottle
As part of a collaborative artwork, Ana invites Patina guests to participate in short workshops, actively contributing to the creation of a permanent installation at Patina Maldives.

Open Studio Session
Join Ana for an exclusive open studio session, offering guests a behind the-scenes look at her creative process.

Ana Pušica residency package
Discover a world where creativity knows no bounds as Ana Pušica, the maestro of contemporary art, transforms Patina Maldives into an immersive canvas of inspiration.

Book now to secure your experience.
For more information and reservations, please visit Patina Maldives or contact
reservations.maldives@patinahotels.com