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The Future Jobs Fund was a UK government initiative introduced in 2009 which aimed to help long term unemployed people back into employment. It was cut by the Coalition government, Prime Minister David Cameron claiming the scheme was "expensive, badly targeted and did not work".[1] However, a 2012 report by the Department for Work and Pensions (DWP)[2] found that the scheme produced a net benefit though tax receipts and a reduced benefits bill.[3] It estimated that the FJF programme resulted in:
- a net benefit to participants of approximately £4,000 per participant
- a net benefit to employers of approximately £6,850 per participant
- a net cost to the Exchequer of approximately £3,100 per participant
- a net benefit to society of approximately £7,750 per participant
Under the baseline assumptions, the total net cost of the programme to the Exchequer was estimated to be approximately £330m. The gross cost to the Exchequer was approximately £720m but it is estimated to have recouped roughly 50 pence for each pound that was spent on the programme.
The Cameron-Clegg government replaced the FJF with an expanded programme ).[4]
See also
editReferences
edit- ^ Bienkov, Adam (28 April 2014). "Why 'Help to Work' won't help jobless back to work". Politics.co.uk. Archived from the original on 28 July 2014.
- ^ Impacts and Costs and Benefits of the Future Jobs Fund https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/223120/impacts_costs_benefits_fjf.pdf
- ^ Rajeev Syal (23 November 2012). "Back-to-work scheme scrapped by Cameron 'produced net gain for UK'". The Guardian.
- ^ UK government to extend workfare for young unemployed https://www.wsws.org/en/articles/2012/02/work-f21.html
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