Prime Minister David Cameron will today unveil an apprenticeship program for young people involving companies from Barclays Plc (BARC) to Diageo Plc (DGE) as he seeks to foster Britain’s economic recovery.
Cameron will visit Bayerische Motoren Werke AG (BMW)’s factory for Mini cars in Oxfordshire, England, to explain the initiative in a speech. As part of the plan, 14 large employers will offer as many as 100,000 vocational training places within two years.
“We know that the economy is turning a corner,” Cameron will say, according to comments released by his office. “We have record levels of employment. But we cannot for one moment be complacent. I’m determined we finish the job we started.”
Data last week showed the economy grew 0.8 percent in the third quarter, the fastest pace since 2010. The economy has expanded 3 percent since Cameron took office in 2010 and he’s counting on keeping the momentum as his Conservative Party trails behind the Labour opposition with 1 1/2 years to go before the next election.
“With around a million young people out of work, we hope these programs will give them the work and training they need to be able to get a full time job,” John Allan, chairman of the Federation of Small Businesses, a lobby group with 200,000 members, said in a separate statement. “It is important the government uses the supply chains of the 14 companies to help find sustained employment for the U.K.’s young people.”
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