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Nick Clegg urges bosses to back £1bn youth jobs plan | Nick Clegg urges bosses to back £1bn youth jobs plan |
(about 1 hour later) | |
Nick Clegg is urging firms to join a £1bn government scheme offering them cash to take on and train young people. | Nick Clegg is urging firms to join a £1bn government scheme offering them cash to take on and train young people. |
The deputy prime minister is writing to employers about the Youth Contract, which will provide a wage subsidy of £2,275 for 18 to 24-year-olds. | The deputy prime minister is writing to employers about the Youth Contract, which will provide a wage subsidy of £2,275 for 18 to 24-year-olds. |
The scheme, which gets under way in April, is aimed at curbing high rates of youth unemployment. | The scheme, which gets under way in April, is aimed at curbing high rates of youth unemployment. |
Mr Clegg said it would give a "significant boost", but Labour says the government is not doing enough. | Mr Clegg said it would give a "significant boost", but Labour says the government is not doing enough. |
More than one million 16 to 24-year-olds in the UK are currently unemployed. | More than one million 16 to 24-year-olds in the UK are currently unemployed. |
The three-year Youth Contract scheme is aimed at ensuring that this does not become a long-term problem. | The three-year Youth Contract scheme is aimed at ensuring that this does not become a long-term problem. |
It will give employers subsidies to take on a total of 160,000 18-to 24-year-olds for six months. | It will give employers subsidies to take on a total of 160,000 18-to 24-year-olds for six months. |
'Call to arms' | 'Call to arms' |
Plans also include: | Plans also include: |
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In his letter to businesses, the deputy prime minister says: "Getting young people earning or learning is my top priority, and that's what the Youth Contract is going to do. This is a long-term boost to help business get young people into jobs before lasting damage is done. | In his letter to businesses, the deputy prime minister says: "Getting young people earning or learning is my top priority, and that's what the Youth Contract is going to do. This is a long-term boost to help business get young people into jobs before lasting damage is done. |
"Employers have a huge part to play in this and the subsidy we're announcing today benefits business and young people." | "Employers have a huge part to play in this and the subsidy we're announcing today benefits business and young people." |
He adds: "Today I'm writing out to thousands of employers of all sizes - from global corporations to small local firms - calling on them to look at what we're offering through the Youth Contract and sign up to offer jobs from April. | He adds: "Today I'm writing out to thousands of employers of all sizes - from global corporations to small local firms - calling on them to look at what we're offering through the Youth Contract and sign up to offer jobs from April. |
"This is a significant moment and a call to arms for businesses to offer long-term opportunities to young people who are out of work." | "This is a significant moment and a call to arms for businesses to offer long-term opportunities to young people who are out of work." |
John Longworth, director general of the British Chambers of Commerce, said: "Businesses are ready to do their bit, and the Youth Contract will provide a much-needed jobs boost for the young. | |
"But this scheme aims to help young people who are removed from the labour market, and could pose a considerable risk for employers. This is why contracts should be as flexible as possible to incentivise more firms to give these young people a chance." | |
Labour has said the initiative is a watered-down version of the last government's future jobs fund, which the coalition scrapped after coming to power. | Labour has said the initiative is a watered-down version of the last government's future jobs fund, which the coalition scrapped after coming to power. |
This initiative guaranteed under-24s out of work for six months a job or training and Labour says 50% of those who took part ended up with a permanent position. | This initiative guaranteed under-24s out of work for six months a job or training and Labour says 50% of those who took part ended up with a permanent position. |
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