He is backing Labour’s five point plan for growth.
(Jobseekers Allowance claimants aged 18-24, claiming for over 6 months. ONS va NOMIS, not seasonally adjusted, data rounded to nearest 5)
|March 2011||March 2012||% change Mar’11-Mar’12|
The news comes as the latest unemployment statistics published today show over 1million young people are unemployed. The unemployment rate for this age group is 22.2%.
The MEP is backing labour’s five point plan for growth including a £2 billion tax on bank bonuses to fund 100,000 jobs for young people. This would create up to 5000 jobs for young people and build 4000 new affordable homes in the South East.
As a Labour Economics spokesperson in the European Parliament Peter Skinner MEP said:
“We’ve had two years of excuses. This Government has utterly failed to tackle Britain’s jobs emergency, and we are limping along in crisis. David Cameron’s Government is creating a lost generation blighted by long-term youth unemployment.
“The South East deserves a clear and urgent plan to get more young people back into work. Last month’s budget should have taken big and bold action to get Britain back to work. Instead we got a hand-out for millionaires, and a slap down for anyone on tax credits. But there is another way. Labour would implement a tax on bankers’ bonuses and use it to create 5,000 jobs for young people in the South East.”
Notes to editors:
- The Labour Party recommends its 5 point plan for jobs and growth to help boost the economy:
1) A £2 billion tax on bank bonuses to fund 100,000 jobs for young people – which they would be required to take up – and build 25,000 more affordable homes.
In the South East, this will create up to 5000 jobs for young people and build 4000 new affordable homes.
2) Bringing forward long-term investment projects: schools, roads and transport – to get people back to work and strengthen our economy for the future.
3) Reversing January’s damaging VAT rise now for a temporary period – a £450 boost for a couple with children – immediate help for our high streets and for struggling families and pensioners.
4) A one year cut in VAT to 5% on home improvements, repairs and maintenance – to help homeowners and small businesses.
The average household in the South East spends £1726.40 a year on home maintenance, repairs and improvements. This means that the average household in the South East stands to benefit by £215.80 a year from a cut in VAT to 5% on home maintenance, repairs and improvements.
5) A one year national insurance tax break for every small firm which takes on extra workers – helping small businesses to grow and create jobs.