Companies offered £3,000 to hire under-24s

The government is offering businesses a cash incentive to hire unemployed youngsters.  The aim is to reduce the two million under-24s who are not in education, employment, or training (NEET).

‘It’s a great scheme,’ whooped a government cheerleader. ‘£3,000 is a massive bung.  It will cover the extra costs of the minimum wage that we whacked them with at the last budget, and it will cover the extra costs of higher national insurance and lower national insurance thresholds.  And it will cover the extra energy costs and business rates.  Probably.  Unless you’re a pub.  And it will cover the extra corporation tax that we’re charging too.  And it reduces government spending on sickness benefit and unemployment benefits.  We can really make £3,000 do a lot of heavy lifting.  Everyone’s a winner – a neet solution, if you like.

So, to summarise, we are literally paying businesses fistfuls of cash to companies to take people on.  If they can get them on an apprenticeship then we can pay even more.  If they meet equality and diversity targets they get a bonus.  And all participating companies will be entered into a prize draw to win a government PPE contract or lunch with Keir Starmer.

‘This scheme shows that the government is on the side of businesses, cheering them on, and leading the growth that we keep banging on about.

‘On the downside, if businesses can’t make this scheme a success, then we will take the difficult decision to increase business taxes again in the Autumn Statement.'

Image: stux - Pixabay

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