On 25th November, the Chancellor of the Exchequer announced the Government’s spending plans for the next year, in the 2020 Spending Review. This review, that usually covers 3-4 years, has been adapted to only cover one year, in response to the ever-changing situation of Covid-19 and resulting financial measures required.
The headlines for youth employment are:
- £2.9 billion ‘Restart’ scheme for the long term unemployed to get regular, intensive jobs support tailored to their circumstances (specifics to be announced);
- An extra £1.4bn of new funding to increase JobCentre Plus capacity to allow more people searching for work to get support;
- For apprenticeships: incentives (money for hiring apprentices) extended until March 2021; ‘front-loaded training’ allowed for construction and health and social care from April 2021; and changes to the apprenticeship levy system;
- Additional funding for Traineeships;
- £291 million to pay for more young people to go into further education;
- Increase in National Minimum Wage and National Living Wage, with the latter being extended to those aged 23 and over;
- Announcement of the Youth Investment Fund (more information to follow).
To read the 2020 Spending Review in full, click HERE.