Rishi Sunak pledges £ 500million to help people return to work
Chancellor Rishi Sunak will commit more than £ 500million in new funds to help people return to work as he seeks to stem the lingering turbulence of the coronavirus pandemic.
Mr. Sunak is focused on securing new or better jobs as the government comes under sustained pressure from a major squeeze in living standards.
He will use his speech at the Conservatives’ conference in Manchester on Monday to outline his vision of shaping the economy around “the forces of science, technology and the imagination”.
The Chancellor will pledge to “make the UK the most exciting place on earth” through improved infrastructure, improved skills and investment in science.
He will announce that the new funding will be used to help workers leaving the leave scheme and the unemployed over 50 to return to work, while the kickstart scheme for young people will also be extended.
But he has resisted the extension of all the support announced during the pandemic, with the end of the leave scheme and the £ 20-per-week increase in universal credit falling.
Labor said the extension of plans “will do nothing to offset” tax hikes and the cost of living crisis, but businesses have welcomed the “pivot from leave to economic recovery”.
New hardship warnings have also been issued regarding the higher energy price cap and rising prices in stores.
Household budgets will take another blow next April when national insurance contributions increase 1.25% to help fund the NHS and social care.
Mr Sunak said he was “ready to double down” on his promise to “do whatever it takes” to recover from Covid-19.
He said the leave scheme was protecting 11 million jobs and the UK “is enjoying one of the strongest and fastest recoveries of any major economy in the world.”
He added: “But the job is not done yet and I want to make sure our economy is ready for the future.”
The start-up program helping young people benefiting from universal credit will be extended until March next year as part of these measures.
The £ 3,000 incentive for new apprentices will be extended until the end of January.
People who have left their leave and who benefit from universal credit will also be given priority for job search assistance under the “job search assistance” program until the end of the year. .
The Treasury said more than £ 500million in new funding would be used, coming from the education and work and pensions departments. Further details will be provided in the next expenditure review.
Shadow Work and Pensions Secretary Jonathan Reynolds said: “The government’s tough jobs plan has failed to meet its original goals. It is not creating the number of jobs it needs and has failed to resolve Britain’s supply chain crisis. “
Matthew Fell, chief political director of the Confederation of British Industry, said: “Business will welcome the Chancellor’s plan for jobs moving from leave to economic recovery. “
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