Alistair Darling delivered his second Budget as Chancellor today against a backdrop of the worst recession for decades.
He explained how he intended to get public finances back on track and wanted to “continue to help people through this global recession” by “providing jobs and spreading prosperity”. He announced several initiatives to help stimulate the job market.
The Government has pledged an extra £1.7bn in resources to support the Job Centre network and the New Deal. Overall the aim is to protect 500,000 jobs.
A new scheme from January 2010 will mean that everyone under the age of 25 out of work for 12 months will be offered a job or a place on a training scheme. Those placed in a job will receive a wage while participants on a training scheme will be given additional money on top of income support.
A boost for training
Further money is being committed to training and education. Some £260m will be provided to train young people needed for emerging industries. An additional £250m is being pledged to creating new sixth-form places, with a further £400m in 2010-11.
Help for those made redundant
There is also some help if you’ve been made redundant. Homeowners who lose their jobs will be given an additional six months of mortgage support while they seek work and the statutory redundancy pay will rise from £350 to £380 a week.
Check out our guide to surviving redundancy for help if lose your job.
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