£1bn support package announced to get young people into work
The government has announced a new £1bn support package to help get more than 200,000 young people into work.
It has announced that companies hiring young people aged 18 to 24 who have been out of work for more than six months will receive a £3,000 grant.
Meanwhile, a new Apprenticeship Incentive of £2,000 will be offered to each new employee aged 16 to 24 taken on by a SME. The government hopes this will create a further 50,000 apprenticeships.
Work and Pensions Secretary Pat McFadden said: “These measures will give life-changing opportunities to young people and significantly reverse the increase we inherited in those not in education, employment or training. We are focusing funding where it’s needed most and giving employers the flexibility and support they’ve asked for.
“These reforms will give young people a vital first step on the career ladder and help business leaders recruit the talent that will grow their companies.”
Additional incentives
The announcement has been welcomed by Apprenticeship Central, which supports automotive employers and apprentices through the apprenticeship journey.
Commercial director Eleanor Baker Barnes said: “These changes are incredibly positive for employers. The additional incentives, particularly the £3,000 support for hiring young people, make apprenticeships an even more attractive option for businesses that want to grow their teams while developing long-term skills.”
She continued:
“Many employers want to hire apprentices but aren’t sure where to start. Our role is to remove that complexity and ensure businesses can focus on what matters most; bringing talented young people into their organisation and giving them the tools to succeed.”
