UK coronavirus live: Rishi Sunak unveils stamp duty cut, furlough bonus and August discount for eating out

Chancellor delivers summer statement in the Commons on UK economic recovery from pandemic

• The chancellor's key points at a glance
• Full report: Sunak unveils stamp duty holiday and hospitality VAT cut
• Boris Johnson refuses to apologise to care workers at PMQs
• PM's local hospital closes to emergency admissions after Covid-19 outbreak
• Global coronavirus updates - live

4.24pm BST

Economic thinktank NIESR aren't impressed with the Summer Statement.

They reckon that ending the furlough scheme at the end of October will hurt confidence; the new 1,000 bonus for taking staff back on may not provide enough support.

While the aim of the Summer Statement is laudable, the new measures look to be badly timed and could precipitate a rapid increase in unemployment.

The incentives offered to employers look too small to be effective. Many employers have been topping up the pay of furloughed workers and are expected to bear more of the cost of the scheme from next month. They will be reluctant to do this now they know that the scheme won't be extended."

4.22pm BST

Today's temporary VAT cut is likely to end up boosting revenues in the hospitality sector, rather than cutting prices, our colleague Rob Davies reports:

Speaking to hospitality firms, I wouldn't expect the VAT cut to make your meal/overnight stay any cheaper.

Most firms will maintain prices and use the cut to boost their margins, simply in order to survive.

Yes, I presume so. But I think a lot of ordinary people will see it and think it sits alongside the meal deal thing as a way to make hospitality cheaper for them.