It felt like a Budget rather than a Summer Statement, as it was all good news from Chancellor of the Exchequer Rishi Sunak. Employment rightly took front and centre stage, with many becoming concerned that the UK will see record unemployment in 2020.

The furlough scheme will be closed in October and replaced by a £1,000 Jobs Retention Bonus (JRB) for employers who retain a furloughed worker through to the end of January 2021, at a cost of £9bn to the Treasury. This is significant when the original version of the furlough scheme was expected to cost £30bn.

It was a novel move by Rishi Sunak, as he was coming under pressure for some quarters to extend the furlough scheme for certain sectors. The JRB puts that firmly to bed, and continues with the theme that all jobs are equally valuable, no matter what sector they are in.