LONDON (UK) – UK finance ministry said on Sunday that it would roll out its largest ever expansion of traineeships. This comes ahead of an anticipated update due this week.
Since the beginning of the pandemic crisis, Finance Minister Rishi Sunak has doled out emergency measures worth 133 billion pounds. This was mostly to help people retain their jobs as many businesses closed down after the lockdown.
As the economy reopens slowly the finance minister is slated to give an update on Wednesday where further measures supporting workers and businesses will be outlined.
PM Boris Johnson said on Tuesday that the government would kick start the nation’s economy by expediting infrastructure investment and cutting property planning regulations.
Sunak is expected to announce an investment plan worth 111 million pounds to triple the number of traineeships, according to the ministery. Businesses would receive a 1,000-pound bonus for everyone they offer a work experience placement.
After assuming charge as finance minister, Sunak has won accolades for the job-retention scheme in which the government paid 80% of the wages of furloughed workers, and an emergency loan programme for business establishments.
But the PM warned that the furlough cannot go on indefinitely, announcing that it would end in October.
The Guardian reported on Sunday that the finance minister is also mulling plans to distribute 500 pound vouchers to adults and 250 pounds to children, to spend in sectors that have been battered by the crisis.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field