Deputy Prime Minister Nick Clegg chose Leeds College of Building as the location to unveil a £1billion scheme to help tackle the surge in youth unemployment.
During his visit to the College, Mr Clegg had breakfast with employers, met students and announced that he is creating a new Youth Contract to subsidise wages for companies that create jobs.
The scheme is designed to get 500,000 young people aged between 18 and 24 into training, work experience or apprenticeships and will pay employers £2,275 towards the wages of each young person they recruit. In total 160,000 places will be available and the money will also pay for 250,000 work experience placements.
Ian Billyard, Principal at Leeds College of Building says: “As the UK’s only specialist construction College we’re delighted that the Deputy Prime Minister chose to make this announcement here.
“The plans sound positive and we support any moves that encourage and promote job creation and work experience. We’re seeing a big increase in the number of new and existing students saying they no longer plan to go to University so these types of schemes are vitally important for the future of young people.
“In addition our experience shows that Apprentices develop a great work-ethic and gain valuable experience. Recent figures also show that nationally Apprentices aged 19 and over generate £40 for each £1 of Government investment so if this scheme can enjoy similar results it will be good value for money.”
Leeds College of Building currently has more than 7500 students. For more information on The College visit www.lcb.ac.ukor call 0845 1297692.