Grayling: Government is focused on rebuilding the economy

Published on Wednesday, 19 January 2011 16:18
Posted by Scott Buckler

Remaining focused on the economy and driving private sector jobs growth is crucial to get Britain working again, Employment Minister Chris Grayling said today (January 19th )

New figures published today by the Office for National Statistics show that overall unemployment has risen on the quarter, however it is broadly flat compared to last month. Encouragingly there has been a rise in the number of vacancies and a fall in the number of people claiming Jobseeker’s Allowance.

Ministers are adamant that reducing the deficit is their key priority and only by doing so we will see the economy grow and ensure that businesses are confident to hire new employees. Jobseekers will be supported back into sustained employment via the new Work Programme which comes on stream in the summer.

Compared to six months ago there are 300,000 more people working in the private sector, proof that new jobs are being delivered in the private sector as the economy is rebalanced. The Government is now pressing ahead with plans to invest in the “industries of the future” such as aerospace, pharmaceuticals and green energy. To encourage jobs across the country the Regional Growth Fund will promote investment and stimulate enterprise in run-down areas.

Chris Grayling said: 

"These figures serve to underline the scale of the challenge we face. We inherited the largest budget deficit in peacetime history and high levels of worklessness, which we are determined to bring down by rebalancing the economy and supporting private sector jobs growth - we are already seeing some improvement in the number of vacancies in the economy.

; "More personalised support for jobseekers will be on offer through Jobcentre Plus and for the long term unemployed who need extra help we are introducing our Work Programme in the summer, which will offer support tailored to individual’s needs so that they can get into jobs and stay there."

As part of its drive to support growth and rebalance the economy earlier this month the Government announced how it will strengthen its plans to push the growth of small business with a big expansion in the scope of its planned New Enterprise Allowance (NEA) helping to create up to 40,000 new businesses by 2013. Urgent steps already taken by the Government include:

  •     announcing four annual reductions in corporation tax;
  •     axing the jobs tax;
  •     cutting the small companies rate;
  •     expanding loan guarantees;
  •     simplifying health and safety laws;
  •     investing in science and apprenticeships;
  •     promoting exports through major trade missions.

Source: ©DWP

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