"Businesses will receive 3,000 for every person between the ages 18 and 24 that they employ who has been searching for a job for six months or more, while small and medium firms will be paid 2,000 for every new apprentice they take on."
"McFadden said the new measures would giving "life-changing opportunities to young people" that will "significantly reverse the increase we inherited in those not in education, employment or training"."
"Prime Minister Sir Keir Starmer said "these reforms underpin our ambition to create an economy that works for everyone, closing the skills gap and supporting more young people into meaningful employment"."
The government is launching the Youth Jobs Grant, a £1 billion initiative to combat youth unemployment by paying businesses £3,000 for each young person aged 18-24 hired after six months of job searching, and £2,000 for each apprentice hired by small and medium firms. The scheme aims to create 200,000 jobs and support approximately 60,000 people initially. An existing jobs guarantee for Universal Credit recipients will expand from ages 18-21 to include 24-year-olds, requiring six months of employment. This addresses the near-million young people classified as Neets (not in education, employment, or training). Work and Pensions Secretary Pat McFadden emphasizes reversing inherited unemployment increases and providing employers flexibility. The initiative has received support from industry figures including Michelin-starred chef Tom Kerridge.
Read at www.bbc.com
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