Rishi Sunak’s £500 million jobs proposal will benefit the over-50s.
Rishi Sunak will present plans today for a £500 million jobs initiative that will give people a “hand up, not a handout.” In his vision to get Britain back to work after Covid, the Chancellor would invest more money in successful initiatives.
He’ll also make a concerted attempt to reintegrate over-50s into the workforce. “I promised to do whatever it takes at the start of this crisis, and I’m ready to double down on that pledge now as we emerge from it,” Mr Sunak added. “Through the furlough program, we were able to protect 11 million jobs in the first part of our job plan, and now we are seeing one of the greatest and fastest recoveries of any major economy in the world.
“But the job isn’t done yet, and I want to make sure our economy is ready for the future, which means giving people the help and skills they need to get back to work and succeed.”
The job plan includes money aimed at older workers to assist them stay in or return to work. Those who lost their jobs as a result of the crisis will receive more intensive, tailored assistance in figuring out their next steps.
It comes after research that showed the over-50s are more vulnerable to losing their jobs as the country recovers from the pandemic.
Claimants will be assisted by employment coaches who will provide guidance on how to find a better job, and specialists will locate local opportunities.
Additional support for workers on Universal Credit will be provided once the £20-a-week benefit payment increase offered during the pandemic ends.
Furloughed employees who have lost their employment will be given priority for assistance through the Job Finding Support program, which includes aid with CVs and practice interviews. Mr Sunak is also extending the Kickstart scheme, which provides six-month placements to under-25s, until March of next year in order to reach out to more young people.
The Chancellor will also make it easier for businesses to hire apprentices by extending the £3,000 payment for each young person hired until the end of January.
He will tell the Conservative Party Conference that tough decisions lie ahead, but the economy is improving because to the government’s efforts.
The UK’s economic revival must leverage the. “Brinkwire News Summary.”