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| Budget must focus on youth jobless, business chiefs say | Budget must focus on youth jobless, business chiefs say |
| (about 5 hours later) | |
| Chancellor George Osborne must include measures in the Budget in March to address youth unemployment and training, says the British Chambers of Commerce. | Chancellor George Osborne must include measures in the Budget in March to address youth unemployment and training, says the British Chambers of Commerce. |
| The business group is calling for a £100m scheme to encourage companies to hire the jobless young or apprentices. | The business group is calling for a £100m scheme to encourage companies to hire the jobless young or apprentices. |
| The BCC is also calling for tax incentives to encourage investment in young entrepreneurs. | The BCC is also calling for tax incentives to encourage investment in young entrepreneurs. |
| There are currently almost 920,000 young unemployed people in the UK. | There are currently almost 920,000 young unemployed people in the UK. |
| The unemployment rate for 16 to 24-year-olds is 19.9%, according to figures released by the Office for National Statistics last week. | |
| The total number of jobless people is 2.34 million - or 7.2%. | |
| "If the chancellor wants to avoid a lost generation among today's 16 to 24-year-olds, he must use the spring Budget to help business take on and train up young people," said BCC director general John Longworth. | "If the chancellor wants to avoid a lost generation among today's 16 to 24-year-olds, he must use the spring Budget to help business take on and train up young people," said BCC director general John Longworth. |
| He added that the government should not wait until after the next general election, scheduled for May next year. | He added that the government should not wait until after the next general election, scheduled for May next year. |
| 'Promote investment' | 'Promote investment' |
| "The crisis of confidence separating Britain's employers and young people can't wait for political posturing or the electoral cycle," said Mr Longworth. | |
| "Getting young people into employment is vital, pressing and easily affordable right now." | "Getting young people into employment is vital, pressing and easily affordable right now." |
| The BCC said young people were almost three times more likely to be unemployed than members of the workforce as a whole. | The BCC said young people were almost three times more likely to be unemployed than members of the workforce as a whole. |
| It said concrete measures were needed to promote business investment in youth. | It said concrete measures were needed to promote business investment in youth. |
| It is proposing a £100m "future workforce grant" scheme, which could offer £1,000 grants to businesses that take on young workers. | It is proposing a £100m "future workforce grant" scheme, which could offer £1,000 grants to businesses that take on young workers. |
| The group is also calling on Mr Osborne to extend by two years the apprenticeships grant for employers scheme to help create 800,000 new apprenticeships. | The group is also calling on Mr Osborne to extend by two years the apprenticeships grant for employers scheme to help create 800,000 new apprenticeships. |
| Furthermore, it wants the government to increase tax relief available through the enterprise investment scheme from 30% to 50% for investors in businesses run by people under the age of 24. | Furthermore, it wants the government to increase tax relief available through the enterprise investment scheme from 30% to 50% for investors in businesses run by people under the age of 24. |
| The Budget is on 19 March. | The Budget is on 19 March. |