Monday 29 June 2009

UK PM Brown Announces New Jobs Program For Under-25s

UK PM Brown Announces New Jobs Program For Under-25s

LONDON -(Dow Jones)- U.K. Prime Minister Gordon Brown announced new initiatives Monday to cushion the impact of the recession, rolling out a new jobs program for younger workers and tripling funding for affordable housing.

Brown said the new jobs program, which will start next January, would guarantee a job or training for those under 25 who have been out of work for a year.

Brown said that a series of government jobs programs will save some 500,000 jobs, although he didn't say how that calculation was made.

The prime minister said he would triple funding for affordable housing over the next two years to GBP2.1 billion from GBP600 million.

Brown also announced various other reforms, including greater choice in public services and further reforms of the upper house of parliament.

Brown reiterated that the new economic programs would be paid for by reprioritizing its policies, not by adding to spending levels or debt.

-By Laurence Norman, Dow Jones Newswires; 44-207-842-9270;

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(END) Dow Jones Newswires

June 29, 2009 11:09 ET (15:09 GMT)

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