Chancellor Rishi Sunak is set to unveil further measures to combat the economic downturn caused by the coronavirus pandemic on Wednesday.
Sunak, who has been in his role since February, has authorised some of the biggest increases in spending by a Chancellor in recent history, via policies such as the Coronavirus Job Retention Scheme and Bounce Back Loan Scheme.
Many methods of re-invigorating the economy have been touted, with a few confirmed by the Treasury. What could we see from Wednesday's statement?
Funding for traineeships
The Telegraph reported on Sunday that the Government would pay businesses £1,000 a throw to incentivise firms to offer work experience to 16-24 year olds, which was confirmed by the Treasury. The move is part of a £111m fund to triple the number of trainees, as part of a move to combat youth unemployment.
The Institute of Directors' Joe Fitzsimons, said: "Revamping our skills systems will be one of the key challenges as we emerge from coronavirus. It’s great to see the Treasury taking action to help small firms play their part in upskilling the workforce."
The Government announced over the weekend that there would be a £1.57bn bailout of the arts and cultural sector to ensure prominent institutions do not collapse. As part of the move, £880m would be given in direct grant funding, as well as £270m in loans for Arts organisations.
A further £100m is to be given to national museums and English Heritage, as well as £120m for other heritage projects. In accordance with the Barnett formula, an additional £188m will be given to the devolved administrations.
Playwright James Graham was supportive of the Government's announcement, commenting that he was "so relieved that Oliver Dowden, DCMS and the Treasury recognise this is a prize worth saving.”
According to a report in The Times, rail companies are set to see extensions to their emergency contracts, which are set to expire on September 20.
An extension to the emergency contracts could cost as much as £10.5bn.
More help for jobseekers
The Treasury has also announced that the number of work coaches at job centres is set to double as Sunak tries to accelerate the process of finding work for the unemployed. Numbers willcjump from 13,500 to 27,000 at a cost of £800m.
A Treasury spokesman said of the announcement: “The longer someone is out of work, the harder it is to return.
"Doubling the number of work coaches will ensure those in need are given immediate support to get back on their feet and into a job."
Stamp Duty holiday
According to reports in The Sun and The Times, a stamp duty holiday is being considered by the Treasury, which would mean the tax only kicks in on property transactions of £300,000 or above, for a six-month period, to kick-start the housing market.
The Sun claimed that it was unlikely to be included in Wednesday's statement but is being considered for the future.
Increased Employment Allowance
The Telegraph reported that Sunak was considering using tax incentives to boost employment, such as an increase to the employment allowance.
However, these changes are being drawn up in advance of a jobs package in the Autumn, and are therefore unlikely to be included in Wednesday's statement.
National Insurance holiday
The Telegraph wrote that a National Insurance holiday was being considered by the Treasury as part of the economic statement, and that such a move could create between 595,000 and 892,000 jobs, according to Tax Payers' Alliance analysis.
The Institute of Director's Tej Parikh backed the move, saying: "Supporting jobs must be the Chancellor's number one priority for this statement. He should help firms hire and retain staff by cutting employment tax. A National Insurance holiday could provide a useful tool to do so."