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1h ago

Reeves Unveils Youth Jobs Guarantee as She Presses EU Mobility Deal Into OBR Forecasts

She asks the budget watchdog to count growth from a proposed UK–EU youth scheme to narrow a pre‑Budget gap.

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A leading economist has predicted that Rachel Reeves will avoid the worst outcome on the bond markets because of the lessons from the 2022 mini-budget
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Overview

  • At Labour conference, the chancellor will guarantee paid work to young Universal Credit claimants after 18 months out of work or education, with possible benefit sanctions for refusals.
  • The Youth Guarantee will also offer college places, apprenticeships and one‑to‑one job support, and it will be overseen by Work and Pensions Secretary Pat McFadden.
  • Reeves continues to push for a reciprocal youth mobility arrangement with the EU and wants the OBR to score its economic impact ahead of the 26 November Budget.
  • Design details for the EU scheme remain under negotiation, with reports discussing options such as ages 18–30, stays up to two years and potential caps, none of which are final.
  • Opponents warn the plan risks reopening freedom of movement and question its fiscal payoff, as Reeves faces an OBR downgrade and a widely reported £30–£50bn budget shortfall without rises in income tax, VAT or employee NICs.