Budget 2012: No help for young unemployed people
Today’s Budget contained no help at all for young unemployed people. All we learnt was that:
Government also recognises that the best route out of unemployment for some young people will be starting up in business, but that it can be difficult to obtain the skills and capital required. Building on the support already availible, including the New Enterprise Allowance, later this year the Government will pilot the best way to introduce a programme of enterprise loans to help young people set up and grow their own business.
Great. A pilot scheme with an unspecified number of places (from which, read ‘it’s very small’) to enable young unemployed people to take on loans which, if their businesses fail, will leave them with additional debts to be repaid through their JSA. Meanwhile, more than one million young people continue to look for jobs, the total amount of support available via the Youth Contract remains 26 per cent less per year than was previously provided and companies get another £800 million off their tax bills.