The CBI today called on the Government to introduce a new tax incentive to encourage companies to take on young unemployed people, as part of a package of measures aimed at boosting employment across the UK.
Against a backdrop of rising unemployment and with one in five young people currently out of work, the CBI is launching a new report Action for jobs: how to get the UK working. Among the measures it calls for is a new Young Britain Credit worth £1500 for firms taking on an unemployed person aged between 16 and 24 years. This would cover the first year’s National Insurance for employers, cost £150 million a year, and is affordable within the context of the Government’s deficit reduction plans.
Other proposals include: creating around 450 business ambassadors, one for each local area, to strengthen links between schools and businesses using successful schemes that build long-term partnerships; introducing a comprehensive “readiness for work” assessment for every unemployed person; and suspending, rather than completely cancelling benefits when someone initially takes a job to reduce the perceived risk of taking a short-term post.
[…] also set out some new proposals for boosting employment, including a Young Britain Credit to encourage more firms to hire unemployed young […]