Chancellor Rishi Sunak is set to unveil a raft of big-spending measures aimed at creating thousands of jobs.
Companies will be paid £1,000 bonuses by the government to hire young people as trainees, the chancellor will announce as part of his rescue plan for Britain’s post-coronavirus economic recovery.
The bonuses for employers who hire young people into training programmes in England will come in a £111m scheme which will pay direct government subsidies for taking on trainees for the first time.
The money will be available for trainees aged 16 to 24 and will be capped at 10 jobs per employer, or £10,000.
Employers will be able to determine how to spend the £1,000, as long as it directly or indirectly contributes to training.
The scheme, in which thousands of young people will be given the skills to secure a job, will be part of the largest-ever expansion of traineeships the country has ever seen, the chancellor is expected to tell MPs on Wednesday.
Unveiling his plan to help kick-start the economy, following on from Boris Johnson’s “New Deal” speech last week, Mr Sunak will say he aims to give more 16 to 24-year-olds “the tools they need to enter the world of work”.