A youth guarantee scheme will be introduced next year, whereby 350 young people who are neither at school nor at work will be given individual attention for training to enable them to find a job. Investment in this scheme would cost the government €2 million, with the young people each being given €1,440.

Finance Minister Edward Scicluna said the government will also introduce an employability index, whereby those following courses will be guided on the job prospects they were likely to have.

Prof Scicluna said that employers will enjoy a tax dedication of €600 for every work placement and €1,200 for every apprenticeship.

Employers will also get a tax cut of €2,030 per year for two years for every unemployed person aged between 45 and 65 who they engage and train. These employers will also benefit from a 50 per cent income tax cut on training costs.

Those people registering for work for more than two years would, upon finding a job, retain 65 of their unemployment benefit for the first year, 45 per cent in the second year and 25 per cent in the third. The employer would receive 25 per cent of the unemployment benefit for three years.

Single parents receiving social assistance would be given a credit of between €200 and €1,000 when they start vocational training in order to improve their skills.

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