A top ally of Labour leader Keir Starmer has called the scale of unemployment in the UK a "horrible, painful toll" on the economy. Shadow Cabinet Minister Peter Kyle expressed concern over the 2.5 million people who are out of work and not accounted for in the economy. He also highlighted the growing number of 700,000 young people who are not in education, training, or work. This alarming situation, according to Kyle, is not only devastating for individuals but also affecting the overall economy, calling for immediate action to tackle unemployment.
Uncovering the Unknown: 2.5 Million Jobless Brits
Kyle emphasized that there is a significant portion of the population that is "just unknown to the economy for reasons that we don't understand." This group of 2.5 million people has not been integrated into the workforce, and no efforts have been made to locate and address their situation.
Youth Unemployment on the Rise
The Labour frontbencher also drew attention to the concerning trend of growing youth unemployment, with 700,000 young people not engaging in education, training, or work. This figure is continuously increasing, exacerbating the problem.
A Personal and Economic Cost
Kyle referred to these unemployment numbers as not only personal tragedies but also detrimental to the economy. He emphasized that the jobless population is dragging down the overall economic performance, which demands urgent action to reverse the situation.
Transforming into Tech and Green Energy Jobs
During the Labour Party conference, Kyle proposed a solution to utilize the workforce by creating jobs in the tech and green energy sectors. He described these jobs as "amazing" and highlighted the immediate availability of these opportunities to enhance the economy.
Removing Red Tape to Support Tech Sector
In his plans to unleash Britain's talent, Kyle vowed to eliminate unnecessary regulations and bureaucratic hurdles hindering the tech sector's growth. His ambition is to streamline processes and facilitate the allocation of government funding to cutting-edge developments.
Ahead of China: Striving for Efficient Funding
Kyle warned that the UK is falling behind superstates like China due to delays in funding scientific projects. He criticized the current system for having excessive layers of government checks, resulting in months of waiting for funding approval. To expedite the process, he suggested implementing 10-year Research and Development budgets instead of the current one or three-year schemes.
Embracing Brexit for Technological Advancements
When asked about the potential benefits of Brexit in science and technology, Kyle expressed his optimism, stating that it could make the UK more agile. However, he also emphasized the importance of maintaining a close relationship with Europe, as it is the current reality of the global landscape.
Aligning with International Standards
Looking towards a post-Brexit future, Kyle underlined the need to prioritize alignment with the standards of key export markets. He stressed the importance of being in the same ballpark or, ideally, surpassing those standards to maintain a competitive edge.
