The Conservatives have unveiled a fully-funded New Deal for Young People, addressing the real challenges facing young people in the 2020s:
- Scrap real interest rates on Plan 2 student loans so balances can no longer rise faster than inflation, saving graduates tens of thousands of pounds over the course of their careers
- Create 100,000 more apprenticeships for 18 to 21 year olds by lifting funding caps and supporting employers with up to £5,000 for every British apprentice they hire
- Introduce a £5,000 First Job Bonus, allowing young people to keep the first £5,000 of National Insurance they would have paid by placing it into a savings account for a first home or future security
We would pay for this by ending funding for wasteful university degrees that trap young people in debt without improving job prospects or career earnings.
This New Deal goes alongside our plan to Scrap Stamp Duty on primary residences, helping young people get on the property ladder.
We are only Party with the clear plan to deliver a brighter future for young people in our country.