Nick Clegg, Deputy prime Minister, visited Leeds College of Building earlier this week to announce a £1billion scheme to help pay towards wages for businesses in order to create new jobs. The idea behind this scheme is to get 500,000 people between the ages of 18 and 24 into training via work experience or apprenticeships.
The cash boost will give employers £2,275 towards the wages of each person they recruit between the ages of 18 and 24. In total 160,000 vacancies are going to be available and the cash boost will pay for 250,000 work experience placements as well.
Principal at Leeds College of Building, Ian Billyard, stated “We’re seeing a big increase in the number of new and existing students saying they no longer plan to go to University so these types of schemes are vitally important for the future of young people. Recent figures show that nationally Apprentices aged 19 and over generate £40 for each £1 of government investment, so if this scheme can enjoy similar results it will be good value for money.”
More than 7500 students attend the Leeds College of Building so this money is helping to give them hands on experience and will benefit the employer and encourage the younger generation to work. See