Employment: Young People
The question
To ask the Secretary of State for Work and Pensions, what support his Department provides to help young people develop budgeting and money-management skills when entering employment.
Answered by Andrew Western
We recognise that the ability to manage money confidently is an important part of succeeding in work and living independently. Through Jobcentres, young people can receive support from work coaches, including advice on budgeting Universal Credit, understanding payslips, and managing household bills. Work coaches can also signpost young people to specialist guidance and local partner organisations that provide financial capability and money-management support.
In addition, the Government is investing an additional £2.5 billion over the next three years into the Youth Guarantee and the Growth and Skills Levy. This investment will support almost one million young people and create up to 500,000 opportunities to earn and learn. This includes through an expanded network of Youth Hubs, earlier intensive support in Jobcentres through a new Youth Guarantee Gateway, additional work experience and training opportunities, a £3,000 Youth Jobs Grant and £2,000 apprenticeship hiring payment for employers, and a fully funded six month job for long-term unemployed 18–24-year-olds.
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