Summary
The government under Labour's new plan will give businesses £3,000 for hiring unemployed young people aged 18 to 24. This initiative aims to help 60,000 young people find jobs over the next three years. Existing job support programs will expand to include more young people and cover different sectors.
Key Facts
- Companies will get a £3,000 grant for hiring 18 to 24-year-olds who have been jobless for six months.
- Over 950,000 young people in the UK are not in education, employment, or training.
- The existing job support scheme is expanding to include people aged up to 24.
- Foundation apprenticeships will offer up to £2,000 for employers and expand into new sectors.
- Employers are currently exempt from paying National Insurance for employees under 21, with conditions.
- Labour is addressing criticism over the increase in the National Insurance rate.
- A review into youth unemployment led by Alan Milburn is expected this summer.
- The government is considering changes to minimum wage plans for young workers.
