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Youth jobs scheme

Government youth jobs scheme is a step in the right direction

The Government is launching a £1 billion scheme that will help tackle the UKs youth unemployment crisis. Deputy Prime Minister Nick Clegg is unveiling his youth contract programme that will see wage subsidies worth £2,275 offered to employers to take on 160,000 young people over three years. It is hoped the initiative will create 400,000 work and training placements.
Liz Field, CEO of the Financial Skills Partnership, said, "As well as the new permanent positions that will be created, the commitment to apprenticeships is very welcome.
 
"Many of the employers we have spoken to have had aspirations to take on apprentices but a lack of confidence about the current state of the economy as well as red tape caused them to be hesitant about new apprentices. The Financial Skills Partnership welcomes the recent announcement that bureaucracy will be minimised and these further announcements should help incentivise employers take on young people.
 
"However, this initiative will need to go further if it is to completely overhaul the jobs shortage in the UK. Other vulnerable groups such as women and older workers still remain a concern and as such there is still a mountain to climb.
 
She added "The Financial Skills Partnership is leading the way working with key employer groups. We have been inundated with requests and enquiries from young people about work experience placements and so we have put in place a matchmaking infrastructure for work experience that will now hopefully be supported by the government in a new way. We are also establishing the Graduate Foundation College, an innovative programme that supports new jobs and growth for SMEs in financial services across the UK.