Impact of the Chancellor's Statement on the Future Jobs Fund – 24^th May 2010

You may have seen today’s Government announcement on reducing the deficit. As part of the plans set out today, Ministers have decided that no further bids to the Future Jobs Fund (FJF) will be approved for funding – which includes bids that are currently waiting for approval. This will save DWP £290m and is part of the Department's £575m contribution.

The DWP confirmed that today’s announcement does not affect the current New Jobs, New Futures project in Hampshire and IOW as all Future Jobs Fund Projects that have already received grant offer letters will continue as normal until March 2011. For the organisations concerned it remains “business as usual”.

Please see the DWP FJF webpages for more information about this announcement.

Future Jobs Fund

'New Jobs, New Futures' - this innovative consortium project covers the Hampshire and Isle of Wight sub-region, led by Hampshire County Council, and supported by North Hampshire Economic Board. Partners include Portsmouth City Council on behalf of Urban South Hampshire (PUSH) and the Isle of Wight, and third sector organisations.

A recognised priority economic need within the area is long term unemployed young people (18-24), and consequently this project identifies 900 jobs covering a variety of disciplines. New employees will receive a range of benefits including personal development, vocational training, mentoring, job search and support to progress into permanent employment. The total grant awarded by the Department for Work and Pensions' Future Jobs Fund is £5,850,000.

The 900 jobs being created by the New Jobs, New Futures project will be in the Hampshire County Council area consisting of 11 districts, the cities of Portsmouth and Southampton and the Isle of Wight. With its rural, urban and coastal zones this sub-region affords a diverse range of industries. The consortium will see 29 partners creating job opportunities across a wide geographic area to deliver a variety of community benefits, fitting broadly into the following categories: