BUSINESSES can apply to get thousands of pounds worth of cash bonuses to hire Brits on Universal Credit – and the Chancellor will pay their wages.
Rishi Sunak announced the start of his £2billion ‘kickstart’ jobs programme today, urging firms to come forward to apply for cash help.
Ministers will pay young people on Universal Credit the minimum wage to work for 25 hours a week as part of fresh work placements to help them back into the workplace.
Huge firms like Tesco have vowed to take part in the landmark programme to create more jobs, as the economy continues to struggle from coronavirus.
Thousands of six-month placements are expected to be created for young people, starting from the beginning of November.
The Government will also pay employers £1500 to set up support and training for people on a placement, as well as helping pay for uniforms and other set up costs.
Youngsters can apply for them through their local jobcentre coaches.
Businesses of any kind can apply for the funding, and for as many places as they want.
The Resolution Foundation has forecast the scheme could help find jobs for around 350,000 youngsters.
It comes just days after the furlough scheme began to wind down, with employers forced to cough up 10 per cent of wages for their workers from the start of September.
The furlough scheme will be wound down by the end of October, but a top Tory yesterday said it should be extended.
Chancellor Rishi Sunak said today: “This isn’t just about kickstarting our country’s economy – it is an opportunity to kickstart the careers of thousands of young people who could otherwise be left behind as a result of the pandemic.
“The scheme will open the door to a brighter future for a new generation and ensure the UK bounces back stronger as a country.”
The programme will be open for at least a year, and could be extended if it goes well.
Around 700,000 young people are set to leave education and enter the job market this year.
And a quarter of a million more people aged under 25 claimed unemployment benefits since March.
Young people are more likely to have lost their jobs in the coronavirus pandemic, or been on furlough due to working in the services sector.
Mr Sunak also has plans to give firms cash for hiring apprentices too as part of his efforts to boost the economy back.
And he will give businesses who keep their employees on until after Christmas a £1,000 cash grant too.
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