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Navin Shah AM backs call for tax on bank bonuses to fund jobs as youth unemployment spirals in Brent and Harrow

By Navin Shah AM

Today I called for a tax on bank bonuses to fund work placements for unemployed 16-24 year olds to prevent another ‘lost generation’. My call follows a 6.9 per cent rise in Brent in the last year and 5.17 per cent in Harrow in number of young people out of work for over six months.

It is clear to see that this Mayor and his Conservative government’s policies are failing as we're back in recession and youth and long-term unemployment are continuing to rise.

Large increases in youth and long-term unemployment are deeply worrying and indistinctive of a lost generation, as we saw in the 80s and 90s under the last Conservative Government. We must do all we can to stop that happening again.

To tackle this crisis, I am calling for a tax on bank bonuses to create jobs for 18-24 year olds and get them into work, as well as build much-needed affordable housing in London.

The figures published today reveal that in Brent:

  • There are now 725 young unemployed people looking for work
  • There are now 2695 people who have been unemployed for 12 months or more and can’t find work.
  • There are a total of 9981 unemployed people looking for work
  • There are only 1618 job vacancies

The figures published today reveal that in Harrow:

  • There are now 290 young unemployed people looking for work
  • There are now 820 people who have been unemployed for 12 months or more and can’t find work.
  • There are a total of 4212 unemployed people looking for work
  • There are only 724 job vacancies

 

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16th May 2012