Millions of people can save money on every day travel to work and make the most of affordable days out this summer, as the ‘Get Around for £2’ scheme is extended for another 4 months, supporting households with the cost of living while growing the economy.
The £2 bus fare cap – previously due to come to an end on 30 June – will now continue until 31 October 2023, helping passengers save a third off the average ticket price.
The offer will be available for single bus tickets on over 5,000 routes in England outside London, helping people get to work, see loved ones, access medical appointments and travel to holiday hotspots for less.
The scheme will then continue at £2.50 for one year until November 2024, thanks to £200 million in government funding to help people save money on travel while growing the economy.

The move is an essential part of the government’s help for households’ initiative to support everyone through the increased cost of living and will particularly benefit those on lower incomes who take nearly three times as many bus trips than those on higher incomes.

 

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Regions around Aberdeen and Glasgow chosen in joint agreement by UK & Scottish Government.
Glasgow City Region and North East of Scotland will be Scotland’s Investment Zones following an agreement between the UK Government and Scottish Government.
The delivery of investment zones will build on the success of the joint UK and Scottish government agreement for two Green Freeports in Inverness and Cromarty Firth and Firth of Forth, to create jobs, drive growth and level up the country.

 

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The Government has released the latest statistics and analysis of unemployment, employment, economic inactivity and earnings in the UK.

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The attached paper outlines the latest statistics on youth unemployment in the UK as well as comparisons with other UK countries.

 

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Some of the biggest British and international companies are working with government to address skills shortages and drive economic growth.

While unemployment is at near record lows, we still have some 1 million job vacancies in the UK. Getting businesses, the skilled workers they need will not only grow the economy but help cut inflation too.

The government is urging employers to hire more apprentices, especially younger workers, and to invest more in training and upskilling their workforce.

Also highlighting the wide range of government-backed courses and support which is available, including Skills Bootcamps and Free Courses for Jobs as well as £2.7 billion of additional

 

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Tens of thousands of new jobs are being created across the UK thanks to billions of pounds of foreign investment, helping the Government’s priority to grow the economy and levelling-up across the UK.

New government statistics published recently reveal that over 1,600 foreign direct investment (FDI) projects will create nearly 80,000 jobs across every part of the UK, with Scotland, Wales, Northern England, the Midlands and the South West seeing significant gains.

Northern England has seen huge gains, with Yorkshire and The Humber landing 103 FDI projects which will create 7,378 new jobs – an increase of 97% on 2021/22 and 423% on 2020/21 – while in the North West and North East, 198 projects are set to create 8,867 jobs.

In just three years, the North West and North East have seen 604 FDI projects landed, leading to 25,872 new jobs.
The Midlands has also seen scores of new projects creating thousands of jobs. In 2022/23, 265 FDI projects were landed which are set to create 11,091 jobs, and in Wales, 47 projects will create 3,062 jobs – up by 71% on the 1,793 in 2021/22.

 

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How are the Prime Minister’s pledges for the economy going?

In January 2023 the Prime Minister out his top five priorities for 2023.
“These are the five foundations I know can build a better, more secure, more prosperous future that this
country deserves.
 We will halve inflation this year to ease the cost of living and give people financial security.
 We will grow the economy, creating better-paid jobs and opportunity right across the country.
 We will make sure our national debt is falling so that we can secure the future of public services.
 NHS waiting lists will fall and people will get the care they need more quickly.
 We will pass new laws to stop small boats, making sure that if you come to this country illegally, you
are detained and swiftly removed.”

This insight discusses how each is going, as we approach the middle of the year.

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The Government have announced plans to build a pipeline of skills and talent through new creative careers promise.

The Government’s plan to grow the creative industries by £50bn and support a million more jobs by 2030, with £77m of new funding for the sector recently announced.

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The number of disabled people in the UK was higher in the first quarter of 2023 than in this quarter in 2022.

The employment rate for disabled people was lower than for non-disabled people, and the gap between the rates increased between the first quarter of 2022 and the same quarter in 2023.

There were 9.58 million people of working age (16 to 64) who reported that they were disabled in January to March 2023, which is 23% of the working-age population. This is an increase of 598,000 from the year before.

In January to March 2023, 342,000 working-age disabled people were unemployed. The unemployment rate for disabled people was 6.2%, down from 6.6% a year previously since the total number of disabled people also increased. The unemployment rate for people who are not disabled was 3.4%.

 

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The organisation for Economic Cooperation and Development (OECD) provides international comparisons on unemployment rates doe major internal economies.

Unemployment rates rose in almost all the OECD countries following the coronavirus outbreak, although the size of the increase varied widely.

Spain had the highest unemployment rate out of the OECD member states in Q1 2023 at 12.8%, followed by Greece at 10.9%. Czech Republic had the lowest at 2.5%.

Youth (aged 15-24) unemployment is a major issue in many developed economies at present. In Q1 2023 the youth unemployment rate was 29.6% in Spain, 27.7% in Costa Rica and 26.9% in Greece. It was 11.3% in the UK.

 

Click here to read the full report.