Mike Gapes MP joined Shadow Chancellor Ed Balls, and Shadow Work and Pensions Secretary Rachel Reeves in Parliament this week to sign up for a call for a tax on bank bonuses to fund jobs for young people.
Under Labour’s Compulsory Jobs Guarantee, every young person out of work for more than 12 months will be given a paid starter job which they will have to take up or lose their benefits.
If Labour’s Compulsory Jobs Guarantee were introduced today 85 young people would benefit in Ilford South and 4685 would benefit in London
Under David Cameron’s government, the number of young people aged 18-24 claiming Jobseeker’s Allowance for over a year has doubled - from 28,300 in May 2010 to 56,100 today. Since 2010 in Ilford South the number of long-term young unemployed has gone up from 15 to 85 in January 2014.
Mike Gapes said: “Under David Cameron’s government too many young people in London are struggling to find work and not seeing any economic recovery at all.
4685 young people in London would benefit from Labour’s Compulsory Jobs Guarantee if the policy were introduced today. Labour’s Compulsory Jobs Guarantee will get young people in Ilford, Redbridge and London off benefits and into work.”
Labour’s shadow Chancellor, Ed Balls said: “If Labour wins the next election we will get young people and the long-term unemployed in London off benefits and into work.
“After the global banking crisis and with bank bonuses soaring again this year, it’s fair to pay for our jobs plan by repeating Labour’s tax on bank bonuses. We need a recovery for the many, not just a few at the top.”