£500 million Plan for Jobs Expansion
The Chancellor, Rishi Sunak, has announced a £500 million expansion of the Plan for Jobs as part of his speech delivered to the party faithful at the Tory annual conference in Manchester. The money will be used to help hundreds of thousands of people leaving the furlough scheme as well as the unemployed over the age of 50 to get back to work.
It was also announced that there will be more help for those earning the lowest wages with increased support for workers on Universal Credit from next April. This will focus on helping the lower paid to progress their careers.
The Chancellor said:
'At the start of this crisis I made a promise to do whatever it takes, and I’m ready to double down on that promise now as we come out of this crisis. The job is not done yet and I want to make sure our economy is fit for the future and that means providing the support and skills people need to get into work and get on in life.'
It was also announced that the Kickstart scheme is being extended to March 2022. The Scheme allows employers to offer young people on Universal Credit and at risk of long-term unemployment state-subsidised work placements for six months. The government is also extending its £3,000 incentive payment for every apprentice a business hires up until 31 January 2022.
Source: HM Treasury | 04-10-2021