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Pre-Budget Report 2005 Summary
Britain meeting the global challenge: Enterprise, fairness and responsibility | |||
| Delivering
high employment
The Government's long-term goal is employment opportunity for all. It aims to promote a dynamic and flexible labour market in which everyone has the opportunity to fulfil their potential. Since 1997, the New Deal has helped over 632,000 young people into jobs. Employment has risen by over 2 million in that time and unemployment has fallen to 4.7 per cent, which is the second lowest of the G7 economies. The New Deal has also helped to provide greater employment opportunities for people who find it harder to obtain jobs, such as lone parents and people with disabilities. The number of people in work
The Government has introduced reforms to improve work incentives and provide support for those on low incomes. Introduced in April 2003, the Working Tax Credit helps to make work pay for people on low incomes and has already helped 2.2 million families. As announced in Budget 2005, the National Minimum Wage was raised to £5.05 for adults in October 2005. The Government is now taking further steps to deliver higher employment across the country by:
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