To: Rishi Sunak, Chancellor of the Exchequer
Invest in Young People
Properly invest in our young people by:
- Providing support for young carers, apprentices and others not included in the announcements made on the 8th of July.
- Expanding measures to prevent youth unemployment, focusing on the creation of green jobs.
- Supporting renters to provide stable accommodation for all young people.
Why is this important?
Measures announced by the Chancellor on July 8th were touted to support young people through the economic repercussions of the Covid-19 pandemic. It included a range of measures, but very few were aimed young people.
The £2.1bn "kickstart scheme" which will provide 6 month work placements to those at risk of long-term unemployment was dwarfed by the £3.8bn stamp duty holiday for home buyers. This is not the way to support a generation that will likely bear the brunt of what may be the worst recession in a generation.
Young people have a much less stable relationship with the economy and so are disproportionately affected by economic crises. Following the 2008 economic recession, youth unemployment peaked at over 22%, compared to 8% for the population as a whole.
We need an ambitious government intervention to prevent it from being even worse with this crisis. A successful scheme would include measures to create entry-level jobs - not placements - for those coming out of education, support for renters who make up the majority of young people and programmes to support young carers, apprentices and others who have been ignored by previous announcements.
We have the chance to prevent a lost generation if we act now with ambition. Invest in young people today!
