The UK government is launching a 2 billion pounds ($2.5 billion) program to create new jobs for young people hit hard by the COVID-19 pandemic, Chancellor Rishi Sunak said on Wednesday
LONDON (Pakistan Point News / Sputnik - 08th July, 2020) The UK government is launching a 2 billion Pounds ($2.5 billion) program to create new jobs for young people hit hard by the COVID-19 pandemic, Chancellor Rishi Sunak said on Wednesday.
In a speech to the parliament, Sunak unveiled the second part of the national three-phase plan to spur the economic recovery. The chancellor made a focus on employment, noting that people under 25 are "two and a half times as likely to work in a sector that has been closed." He stressed that the United Kingdom "cannot lose this generation," and is announcing the Kickstart Scheme.
"The Kickstart Scheme will directly pay employers to create new jobs for any 16 to 24-year-old at risk of long-term unemployment ... These will be decent jobs - with a minimum of 25 hours per week paid at least the National Minimum Wage. And they will be good quality jobs - with employers providing Kickstarters with training and support to find a permanent job," Sunak said.
Employers will be able to apply for this scheme starting next month and welcome the first "kickstarters" in their new jobs in the fall.
In addition, the government will cut the VAT rate for most tourism and hospitality-related activities from 20 percent to 5 percent and offer an Eat Out to Help Out discount scheme for sit-down meals in cafes, restaurants and pubs nationwide from Monday to Wednesday in August, according to the Treasury.