Chancellor Rishi Sunak has snubbed a new voucher scheme designed to boost Britain's high streets and save retail chains from collapse.
The so-called '£500 shopping initiative' was put forward by think-tank the Resolution Foundation on Sunday to help restart the economy following the pandemic.
If introduced, the charity said the scheme would save millions of jobs, and give the sector a cash injection, at a time when dozens of chains are entering administration.
Under the proposals, every adult would have been handed £500 and every child £250, to help pump cash back into the high street.
However during Wednesday's mini-Budget, the Chancellor ruled out plans for the scheme - with a new eat out to help out initiative unveiled for pubs and restaurants instead.
He said the scheme - which will allow all Brits to dine out for half the price in August - would save ailing pubs and restaurants from collapse as furlough is wound down.
However, no mention was made to the shopping initiative, which would have cost the economy £30billion if given the green light.
In its proposals, the Resolution Foundation said the money would be delivered as vouchers, instead of cash, to encourage people to 'spend not save'.
The new 'eat out to help out' scheme - which is a variation of the proposed idea - will allow every member of the public to eat out for 50% less as many times as they like in August.
It will be valid at 129,000 cafés, restaurants and pubs across the UK and equate to 50% off, up to a maximum discount of £10 per head.
In a further move, VAT will be cut for six months, reduced from 20% to 5% to incentivise the public to spend money over summer.
While the Chancellor said it's the "first time" the UK has trialled such a scheme, China, Taiwan and Malta have taken similar measures to help reboot their economies in the past three months.
In Taiwan, members of the public are being handed vouchers that can be used to purchase goods and services at retail shops, restaurants, markets, cultural venues, hotels, and rail transport. They cannot be used online or to purchase goods such as cigarettes, stocks, or coupons.
In Malta, residents are being given €100 (£90) in five €20 vouchers to spend at bars, hotels, and restaurants which have suffered from the collapse in global tourism.
The vouchers - which are valid for six months - are being mailed to all residents over the age of 16 and 80% of them have to be spent in the hospitality sector.
The Treasury said to redeem the 'eat out to help out' discount, you won't have to collect individual vouchers.
All participating restaurants and pubs will be listed online, and your discount will be applied at the till.
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