14th February, 2012 - Posted by admin - Comments Off
Under new plans outlined by deputy prime minister Nick Clegg and employment minister Chris Grayling, employers would be able to access their share of a £1 billion wage subsidy.
Employers taking part in the scheme will be able to apply for up to £2,275 for every person aged 18-24 they hire from the government’s Work Programme.
The monetary subsidy will be used to cover employment costs, such as National Insurance.
Ministers are hoping the monetary incentives will lead to 160,000 young people being offered positions in small firms.
Mr Clegg said: “This is a long-term boost to help business get young people into jobs before long-term damage is done. Employers have a huge part to play in this and the subsidy we’re announcing today benefits business and young people.”