Rishi Sunak considers national insurance holidays for firms as part of coronavirus recovery package.

The UK Chancellor's focus is on measures to stem the expected spike in unemployment and boost economic growth.

Rishi Sunak is considering national insurance holidays for companies as part of a coronavirus stimulus package that will be announced in July, The Daily Telegraph newspaper reported late on 01 June.

Tax rate increases, including raising income tax and VAT, that have been under consideration are likely to be delayed until economic growth recovers, citing sources close to the discussions.

The report adds that Sunak's focus is on stemming unemployment with options being considered including tax incentives or subsidies for employers who hire new staff, job guarantees for young people and skills retraining.