What is it?
A total of £1.6 billion will be invested in scaling up employment support schemes, training and apprenticeships.
The £2bn Kickstart Scheme will pay employers to create new jobs for 16 to 24-year olds at risk of long-term unemployment.
Who is it for?
Businesses that create jobs for those aged 16-24, claiming Universal Credit and at risk of long-term unemployment, will be eligible.
How does it work?
Funding will be available for each six-month job placement. It will cover 100% of the National Minimum Wage for six months, plus an amount to cover overheads, as long as these jobs are new and offer a minimum of 25 hours per week of work. Employers will be able to top this wage up.
Businesses will be given £2,000 for each new apprentice they hire under the age of 25. This is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan.
What should I do next?
Critchleys Clients: If you have specific questions, please contact your Critchleys Accountant directly.
First Published 9 July 2020
Last Updated 9 July 2020
9 July 2020