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<p>The temporary reduced rate of VAT was introduced on 15 July to support the cash
flow and viability of over 150,000 businesses and protect 2.4 million jobs in the
hospitality and tourism sectors, and will run until 31 March 2021.</p><p> </p><p>This
policy will cost over £2 billion. The Government keeps all taxes under review, and
any future decisions on tax policy will be made at Budget.</p><p> </p><p>The Government
has announced a significant support package to help businesses from a whole range
of sectors through the winter months, which includes an extension of the Coronavirus
Job Retention Scheme, an extension of the Self-Employment Income Support Scheme grant,
and an extension of the application window for the Government-backed loan schemes.</p>
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