By Maximilian Clarke
The government must use tax incentives that encourage firms to hire unemployed young people, as their numbers threaten to pass the 1 million mark for the first time in the UK’s history, the Confederation of British Industry have said.
Tomorrow (Wednesday) will see the Office for National Statistics publish the UK’s latest labour market statistics, which are widely anticipated to reveal a further rise in joblessness. Business confidence is down domestically and internationally, as a result of eurozone uncertainty, whilst public sector cuts continue at a faster than forecast rate.
In order to combat this worsening crisis of employment, the CBI are urging the government to implement a series of tax incentives that will encourage jobs to take on new staff with a focus on 16-24 year olds.
“With unemployment figures set to show yet another disappointing rise, we need action for jobs now,” said John Cridland, the CBI’s chief executive.
“We’ll be making the case strongly to the Prime Minister that job creation, especially for young people, must be a major plank of the autumn statement.
“We are calling for a new Young Britain Tax Credit to encourage employers to take on unemployed 16 to 24 year-olds to help them secure that all-important first step on the jobs ladder.
“Businesses are also ready to play their part, becoming ambassadors to inspire young people about the world of work, offering more apprenticeships, meaningful work experience and fostering better links with schools. There also needs to be further reform of the benefits system to make work really pay.”
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