The Chancellor Rishi Sunak has today announced an extension to his “Plan for Jobs” which offers cash incentives for employers hiring new apprentices, and 6-month subsidised job placements under the Kickstart scheme.
The Plan for Jobs, first announced in July 2020, was a £650bn package of support designed to help stimulate the skills and jobs market as the economy recovers from the pandemic.
The recently published Plan for Jobs progress report revealed that more than 85,000 apprentices have been hired under the incentives scheme, and a further 76,900 young people had started a job under the Kickstart scheme. However, with the furlough scheme ending in September and a potential surge in unemployment, the government is extended the availability of both schemes to recruiting employers.
Employer cash incentives of £3,000 for every new apprentice a business hires ended in September. However, today’s announcement confirms an extension to the incentive scheme by four months until the end of January.
The Kickstart Scheme, which offers 6-month subsidised job placements for 16-24 years olds claiming universal credit was due to end for new starts in December 2021, is being extended by three months to March 2022.
Further guidance on each extended funding measure is expected to be confirmed at the Spending Review on 27 October.
For more information on the extended incentives, or to discuss your recruitment and training needs, contact one of the team at email@example.com