The government is being called to extend is graduate schemes by a a leading SME body
The graduate scheme set to end in March has been helped by the government in the cost of setting them up and matching candidates to a suitable business. Around 8,500 graduate schemes have been undertaken since the launch last February, of which 25 per cent resulted in permanent employment.
With the plans to scrap it shortly coming into play the trade body is calling on the government to extend it with another £8m in support, around 5,000 schemes. With the government saying recently that they are ‘pro jobs’ pro growth’ the trade body believes this is technically better for the economy because of the reduction of benefits and added tax revenues generated as a result from this scheme.
John walker, national chairman of the federation of small business said “The current Graduate Scheme has proved highly successful, with some interns going on to start their own companies and others being offered full-time positions with the business they interned for.” The argument for is increasingly powerful due to the Office of national statistics recently showing that one in five young people aged between 16 and 24 are out of work. With many firms having reduced their graduate recruitment and universities increasing thier costs, there is an increasing need for the goverment to find a solution to the problem and many feel this is the best way.
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