UK’s Post-Covid Recovery Action Plan

UK Labour Party and Chief Opposition Leader Mr. Keir Startmer shared his vision for UK’s post-coronavirus recovery and redevelopment. In the latest press release, he has imparted a handful of policies and general approaches that would help the economy recover. He has emphasized tackling inequality and partnership with local and international businesses.

UK Business Visa from India has been severely affected by the travel restrictions and economic slowdown of the Covid-19. He intends to present an exact blueprint to improve businesses and propel immigration from all around the world.

What is the essential action plan for economic recovery?

British Recovery Bond

• He proposed an Official Savings Scheme that will harvest the additional savings accumulated by households during lockdown to spend on infrastructure and jobs.
• There are many discussions and policies on spending the suppressed £125bn amid the coronavirus pandemic.
• The ruling party think tanks are also proposing a similar scheme for the households.

Start-up loans for businesses

• Another proposal would similar and better than the existing government-backed scheme of Start-Up Loans Company. It provides investment for new businesses.
• However, the current scheme provides fewer than 9,500 loans per year since its inception in 2012, emphasizing London and south-east England.
• Startmer has pledged to fund 100,000 businesses over the five years and spearhead the investment’s regional basis.
• This scheme will also help the Startup Visa UK program applicants who require funding and endorsement for their business and process in the UK.

Partnership with business

• He indicated that new policies tend to see business as an integral of the economy. He added, working with companies is “pivotal to my leadership.”
• He also emphasized that businesses would become significant in helping equality outcomes and tackling the climate emergency.

Tackling Age-old inequalities

• He noted that national inequalities are a case of the eternal battle for a long time that affects most deprived women.
• He assures to tackle this issue with utmost urgency instead of Boris Johnson’s talk of “leveling up.”

Public services with Financial Responsibility

• He pledges to prioritize financial responsibility by valuing people’s hard-earned money.
• He further assured to drive the existing policy commitments on spending and public services such as – £20-a-week uplift in universal credit, money to local authorities, ending the public sector pay freeze, and measures to help business.

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