(LONDON) Press Release: A Plan for Jobs 2020 speech as delivered by Chancellor Rishi Sunak on his ‘ Three Point Plan ‘ for the U.K. economy as we emerge from lockdown after three months #AceFinanceDes k report

#AceFinanceReport – June.08: Today I want to set out for the House a new three-point plan for jobs. We need to:

  • first – support people to find jobs
  • second – create jobs
  • and third – protect jobs

A Plan for Jobs speech

A Plan for Jobs 2020 speech as delivered by Chancellor Rishi Sunak.

HM Treasury

Let me start with supporting jobs, and in particular the help we want to provide for those who will be hardest hit by this crisis: younger people: Over 700,000 people are leaving education this year……………..Many more are just starting out in their careers………………………Coronavirus has hit them hard – under 25s are two and a half times as likely to work in a sector that has been closed.

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: These will be new jobs – with the funding conditional on the firm proving these jobs are additional………..These will be decent jobs – with a minimum of 25 hours per week paid at least the National Minimum Wage……………..And they will be good quality jobs – with employers providing Kickstarters with training and support to find a permanent job……………..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 to be part of the scheme from next month, with the first Kickstarters in their new jobs this autumn…………………And I urge every employer, big or small, national or local, to hire as many Kickstarters as possible…………….Today, I’m making available an initial £2 billion; enough to fund hundreds of thousands of jobs……………………..And I commit today: there will be no cap on the number of places available.

We can do more for young people:

  • traineeships are a proven scheme to get young people ready for work. We know they work, so for the first time ever we will pay employers £1,000 to take on new trainees, with triple the number of places
  • to support 18-19-year olds leaving school or college to find work in high-demand sectors like engineering, construction and social care, we’ll provide £100 million to create more places on Level 2 and 3 courses
  • and the evidence says careers advice works, so we will fund it, with enough new careers advisers to support over a quarter of a million more people.

We will also expand our universal skills offer:

Sector-Based Work Academies provide training, work placements, and a guaranteed job interview in high-demand sectors: The evidence shows they work, so we will expand them – tripling the number of places.

And we know apprenticeships work, too – 91% of apprentices stay in work or do further training afterwards: So for the next six months, we’re going to pay employers to create new apprenticeships.

We will pay businesses to hire young apprentices, with a new payment of £2,000 per apprentice: And we will introduce a brand-new bonus for businesses to hire apprentices aged 25 and over, with a payment of £1,500.

And let me thank my Right Honourable Friend the Education Secretary for his support and commitment in developing these measures: We know the longer someone is out of work, the harder it is to return.

Millions of people are moving onto Universal Credit – they need urgent support to get back to work:

So, we are:

  • doubling the number of Work Coaches in Job Centres
  • increasing the Flexible Support Fund
  • extending the Rapid Response Service
  • expanding the Work and Health Programme
  • and developing a new scheme to support the long-term unemployed

The academic and economic evidence tells us these are among the most effective things we can do: So I’m investing an extra billion pounds in DWP, to support millions of people back to work: And I’m grateful for everything my Right Honourable Friend the Work and Pensions secretary, and her incredible team, have done: £1 billion of support for the unemployed; more money for skills, traineeships, and apprenticeships; and a new, good quality job for hundreds of thousands of new Kickstarters – the first part of our plan for jobs.

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