The Chancellor has today, Monday 29 September, announced a 'Youth Guarantee' for eligible young people, as well as funding to guarantee a library for all primary schools by the end of this parliament
The announcements also included a new investigations team to go after fraudulent Bounce Back Loan claimants and Public Procurement.
Youth Guarantee
Every eligible young person who has been on Universal Credit for 18 months without earning or learning will be offered guaranteed paid work through a new Youth Guarantee. This new initiative will build upon existing employment support and sector-based work academies currently being delivered by the Department for Work and Pensions. The scheme forms part of the government’s aim to provide targeted support for young people at risk of long-term unemployment.
ADVERTISEMENT: Start Investing with No Fees — Join Robinhood Today
The Youth Guarantee will include a targeted backstop, where every eligible unemployed young person on Universal Credit for 18 months without earning or learning will be provided guaranteed paid work. Participants of the scheme will receive support to take advantage of available opportunities, with the aim of helping them transition into regular employment.
School libraries
The Chancellor has also committed over £10 million in funding to guarantee a library for all primary schools by the end of this parliament.
One in seven primary schools in the UK do not have access to a library according to figures from the National Literacy Trust. That rises to one in four for disadvantaged areas, and almost half of schools in England without a library are located in the North. Government will set out further details of the scheme in due course.
Covid fraud
As part of the Chancellor’s plans to recover lost Covid funds it was confirmed that a new investigations team will go after fraudulent Bounce Back Loan claimants. Claimants who have yet to respond to the voluntary repayment scheme risk court. New powers for the government will make detection easier and allow the government to levy civil penalties, which will ensure that those who have defrauded the taxpayer face the consequences.
ADVERTISEMENT: Start Investing with No Fees — Join Robinhood Today
Public Procurement
Plans to reform public procurement to back British suppliers – supporting economic growth, creating jobs and providing British businesses with greater security – have also been announced.
Following a consultation on public procurement process, the government will support businesses that make and invest in Britain by legislating for a new economic security power when parliamentary time allows. This would help protect our national security interests, that will create new flexibilities for awarding contracts in key sectors, including shipbuilding. The purpose of this power would be to protect our national security. This will help contribute to safeguard UK jobs and strengthen domestic manufacturing.
The reforms harness the government’s £385 billion annual procurement spend as a strategic lever to protect supply chains, create opportunities for local businesses and social enterprises, and deliver greater value for taxpayers. Across strategically important sectors essential for our economic security and to protect our national security, British jobs, skills and manufacturing will be prioritised when the government procures from businesses.
Shipbuilding is a key sector set to benefit, with weight given to British firms for government vessel contracts. The Ministry of Defence will create an Action Plan for Shipbuilding and Maritime Technology which will allow us to seize on these new procurement powers and emerging opportunities. This will protect jobs in UK shipyards and rebuild Britain’s shipbuilding capabilities. This follows the recent announcement of the UK’s biggest ever warship export deal with Norway worth £10 billion - supporting over 4,000 UK jobs and delivering on the government’s Plan for Change.
ADVERTISEMENT: Start Investing with No Fees — Join Robinhood Today
Further Information
Youth Guarantee
Primary School Library funding
Covid enforcement