You are here: Home - Household Bills - News -

Kickstart job scheme to launch to help young people

0
Written by:
08/07/2020
The government’s unveiled a £2bn Kickstart Scheme to help young people at risk of long-term unemployment into new jobs.

A £2bn Kickstart scheme will subsidise six-month work placements for people on Universal Credit aged between 16 and 24, who are at risk of long-term unemployment.

As part of the Summer Statement, chancellor Rishi Sunak said over 700,000 people are leaving education this year and many more are just starting out in their careers.

But the coronavirus has hit them hard with under 25s being two and a half times as likely to work in a sector that has been closed.

He said: “We cannot lose this generation, so today, I am announcing the Kickstart Scheme:

“A new programme to give hundreds of thousands of young people, in every region and nation of Britain, the best possible chance of getting on and getting a job.

“The Kickstart Scheme will directly pay employers to create new jobs for any 16 to 24-year-old at risk of long-term unemployment.”

He said the jobs must be new, additional jobs, with a minimum of 25 hours per week with staff paid at least the National Minimum Wage.

Sunak added: “If employers meet these conditions, we will pay young people’s wages for six months, plus an amount to cover overheads. That means, for a 24-year-old, the grant will be around £6,500.”

Employers can apply next month, and the Kickstart workers are expected to be in their new jobs this autumn.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Privacy Preference Center

Necessary

Advertising

Analytics

Other

Read previous post:
Top takeaways from the 2020 Summer Statement

Chancellor Rishi Sunak has set out A Plan for Jobs 2020 in his Summer Statement dubbed the “mini budget”.

Close