Ever since the pandemic began, Britain’s furlough scheme has helped pay the salaries of about 11.6 million workers. It kept them from feeling the brunt of joblessness. However, now that the scheme has ended, unemployment is expected to rise.
The British government plans to spend more than 500 million pounds, that is, about $678 million to help the affected and at-risk workers get employment.
The scheme will ensure that the jobless who are 50 or older and those who would cease to benefit from the furlough scheme that had sustained them for a year and a half, are assisted back into employment.
The ones who were lowest on the pay scale will receive support to progress in their careers. All the ongoing schemes aimed at helping the youth will be extended for another year.
This is all part of the Government’s ‘plan for jobs’ measures including the ‘super-deduction’ tax break for businesses, Kickstart Scheme for those seeking work and offers of internship or training.
The Kickstart Scheme will be extended to March 2022 and will provide employers with the funds required to create jobs for the younger lot in the 16 to 24 age bracket and those on universal credit.
Universal credit is a social security payment made by the British government to those whose incomes are low, or those out of work or unable to work.