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Tax incentives needed to get young into work. Pearson May News Update - Wednesday 2 November
Pearson May news blog
Tax incentives needed to get young into work
Tax incentives for businesses that take on unemployed 16 to 24 year olds have been proposed by the CBI.
The recommendations form part of a package of proposed measures aimed at boosting employment across the UK.
The latest employment figures showed that almost one million people aged between 16 and 24 are unemployed. Among other recommendations the CBI wants to see a Young Britain Credit launched, which would be worth £1500 to cover the cost of the first years' national insurance for employers.
Other proposals include reforms to benefit rules that currently act as a disincentive to work, and the creation of a network of local business-nominated champions who would develop links between schools and businesses.
Commenting, John Cridland, CBI Director-General, said: "With unemployment rising, particularly among young people, now is the time for action for jobs.
"The best way of getting the UK working is to get the private sector motoring, but the labour market has been wracked by structural problems long before the recession struck that won't be swept away by a return to growth.
"The good news is that even in these challenging times businesses are creating jobs, but all too often the unemployed, particularly our young people, are not best placed to get them. We need businesses, schools and the Government working together to make sure young people are able to shine in the jobs market.
"Our proposals are not exhaustive, but taken together would herald a major shift in the way we prepare youngsters for the world of work, provide support for companies to create and retain jobs, and ensure the benefits system makes work pay."
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