Our initial analysis on the recently announced budget for the UK from Rishi Sunak, Chancellor of the Exchequer (Richmond (Yorks) MP) on 3 March 2021.
You cannot fail to notice that coronavirus (Covid-19) has had an impact on jobs and careers as well as the rest of daily life. From those of you who have encountered furlough, you may have noticed that the Chancellor extended the Coronavirus Job Retention Scheme until 30 September 2021. In other words, someone could have been on furlough in total for 18 months from 23 March 2020 from their job.
Support for jobs - apprenticeships and traineeships
However, the news that has got us more excited is:
- In England, an additional £126 million for high-quality work placements and training for 16-to 24-year olds in the 2021-22 academic year. Employers will continue to be funded at a rate of £1,000 per trainee.
- Further, employers in England who hire new apprentices between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire. Previously, this was £1,500 for each apprentice hire, or £2,000 for each apprentice aged below 25.
- In addition, the Government continues to provide £1,000 for any new apprentices aged between 16 and 18, and for those under the age of 25 with an Education, Health and Care plan.
- Also a £7 million fund will be set up and expand flexi-job, portable apprenticeships allowing young people to work with several employers in one sector, instead of just one employer at a time.
- A £1.3 million investment in technologies to help people find jobs.
We will, undoubtedly, be looking to expand our own team in due course and may well consider some apprenticeships that we can offer to help someone on to the first step of the career ladder.
Overall, whilst we commend the Chancellor for the above steps, we do note a number of areas in which there was nothing provided. For example, there was no news on nurses, doctors, teachers, social workers, police officer, firefighters and our other key worker services. We hope that Parliament forces the Chancellor to rethink on what needs to be done to support our key workers who have helped all of us battle coronavirus over the last 12 months.
Despite being in favour of advancements and changes, we still think your career and business requires the personal touch and someone who you can trust to coach you through your decisions. Come and speak to us at OutShout on 0203 740 3432 or firstname.lastname@example.org.