Unpacking what the Spending Review announcement means for business on the issue of people and skills.
In today’s Spending Review, the Chancellor laid out stark economic prospects and pledged billions of pounds into job creation and support packages.
The Chancellor, Rishi Sunak MP, used his one-year economic statement to warn that ‘the economic emergency has only just begun’ and pledged to spend a further £55bn next year as part of a package of measures to support the recovery. This includes billions of pounds to help people find jobs, such as the Kickstart Scheme, announced back in July, and a newly announced ‘Restart’ programme.
Supporting jobs
The Chancellor announced his ‘Plan for Jobs’ back in July, including a Kickstart Scheme and an apprenticeship bonus. Read the CBI’s Factsheet on Kickstart.
Today’s spending review restated that:
- Kickstart has £1.6bn in 2021-22 to ensure funding for over 250,000 jobs
- Additionally, there will be £1.4bn of new cash to increase Job Centre Plus capacity and double the number of work coaches.
Building on the summer interventions,
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