NEWS FROM JOHN BIGGS: John Biggs calls for tax on bankers’ bonuses to tackle spiralling youth unemployment in Barking & Dagenham

16 FEBRUARY 2012

Local London Assembly member John Biggs today called for a tax on bankers’ bonuses to fund work placements for unemployed 16-24 year olds to prevent another ‘lost generation’. The call follows a 155%per cent rise in the number of young people out of work for over six months in Barking & Dagenham 

 According to January’s unemployment figures, released on Wednesday, there are now 235,177 people looking for work in London and 7,500 in Barking & Dagenham. This is an increase of 9.5% and 14.1% respectively in the last year alone.

 Local London Assembly member John Biggs said: “Instead of taking a hands-off approach, the government and Mayor Boris Johnson need to use all their powers to get Londoners back to work. I am calling for a tax on bankers’ bonuses to fund work placements for young people. In recessions of the 80s and 90s we saw youth unemployment sky-rocket and a lost –generation. We must do all we can to stop that happening again.”

 “It was the bankers’ who got us into this mess and it is about time they paid their fair share to help our young people who are bearing the brunt of a recession they did nothing to cause. Why are ordinary people being forced to pay for others' mistakes?”

 The figures published today reveal that in Barking & Dagenham:

 

  • There are now 7,500 unemployed people looking for work
  • 2,160 of them are under 24
  • 715 have been out of work for more than six months
  • There are only 527 job vacancies in Barking & Dagenham

 

Across London:

  • There are 235,177 people out of work
  • 55,410 are under 24
  • 16,655 have been out of work for more then six months
  • There are 32,580 job vacancies in the capital - seven jobseekers for every vacancy

  Ends

 

Notes

 John Biggs is the London Assembly member for City and East, covering the boroughs of Tower Hamlets, Newham, Barking & Dagenham and the City of London.

2.   JSA Claimant Count and Vacancy figures are available at www.nomisweb.co.uk