£1.57 billion package for the arts

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The show must go on

The government has pledged a £1.57 billion rescue package to help save theatres, music venues, museums, and galleries. The UK arts scene has been hit hard by lockdown measures. It’s been warning for weeks that it was at risk of collapse without support. The package includes a mix of loans, grants, and capital support designed to prop up cultural organisations across the country.

Unis about to go bust?

13 UK universities are at risk of insolvency unless they get a bailout according to a study by the Institute of Fiscal Studies (IFS). It doesn’t name names, but says unis with lots of international students face the biggest drop in income, and less prestigious universities are at greater risk overall. The IFS recommends a government bailout as the most cost-effective plan.

More traineeships

The number of “traineeships”, which provide practical and classroom-based training to get young people onto the career ladder, is set to rise to 30,000. We’ll get more details on Wednesday when Chancellor Rishi Sunak unveils his economic plan to deal with the aftermath of coronavirus.

£500 voucher anyone?

The chancellor is considering giving £500 to every adult and £250 every child to spend with businesses in hard-hit sectors like hospitality and retail. It’s one of many possible measures being weighed up, including a temporary VAT cut or one-off cash payments. All will be revealed on Wednesday.

Adviser comment: "This is something that has been done in many countries around the world and could give a much needed boost to some troubled businesses and some welcome spending money to everyone else.”