The Chancellor of the Exchequer today has set out a bold plan to protect, support and create jobs – a Plan for Jobs. It will include the biggest package of support for youth unemployment including a landmark Kickstart Scheme – a £2 billion fund that will create hundred of thousands of new, high-quality, Government-subsidised jobs for young people at risk of long-term unemployment.
Maria welcomed the announcement in the Chancellor’s summer economic update. Maria said, “Can I thank my Right Honourable Friend for his statement and so carefully judging what is needed now as we move forward, particularly to support young people who have been hard hit by the recent events.
Thousands of young people in my constituency got their first foot on the jobs ladder through apprenticeships through places like BCOT. How will my Right Honourable Friend’s plan for jobs build confidence amongst employers to create and sustain more apprenticeships at this difficult time.”
The Chancellor of the Exchequer, Rt Hon Rishi Sunak MP responded, “My Right Honourable Friend is absolutely right about impact on young people, they are two and a half times more likely to work in the sector that has been closed down. And she is right, we know that apprenticeships work, evidence points in that way.
Starting in September employers will be paid £2000 for every young apprentice they take on, a bonus that will incentivise them to create more apprenticeships at this time of vital need.”
Payments for employers who hire new apprentices – The government will introduce a new payment of £2,000 to employers in England for each new apprentice they hire aged under 25, and a £1,500 payment for each new apprentice they hire aged 25 and over, from 1st August 2020 to 31st January 2021. These payments will be in addition to the existing £1,000 payment the government already provides for new 16-18 year-old apprentices, and those aged under 25 with an Education, Health and Care Plan – where that applies.