Neet Crisis Could Cost UK £125 Billion, Report Warns
Neet crisis ‘could cost country £125 billion’ as young people ‘myths’ blasted
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Alan Milburn's report highlights the potential £125 billion economic impact of the 'Neet' crisis in the UK, projecting that 1.25 million young people could be classified as 'Neets' in five years. He criticizes the notion that young people are solely to blame for this issue, pointing to systemic failures in institutions meant to support them.
- 01Alan Milburn's report estimates that the UK could face a £125 billion cost due to the 'Neet' crisis.
- 02Currently, over 1 million young people are classified as 'Neets', with projections of 1.25 million in five years.
- 0361% of young people labeled as 'Neets' have never held a job, a significant increase from 42% two decades ago.
- 04The report identifies that eight of the ten English local authorities with the highest 'Neet' rates are located in the Midlands and North of England.
- 05Milburn emphasizes that the institutions designed to support young people are failing, rather than the young people themselves.
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Alan Milburn, former Cabinet minister, has released a report warning that the 'Neet' crisis in the UK could cost the economy £125 billion. The term 'Neet' refers to young people who are not in education, employment, or training, with current figures indicating over 1 million fall into this category. Milburn projects that this number could rise to 1.25 million within five years. He challenges the stereotype of a disengaged generation, asserting that the real issue lies within failing institutions that should provide opportunities for young people. The report reveals that 61% of 'Neets' have never had a job, a stark contrast to 42% two decades ago. Notably, many of the regions most affected are in the Midlands and North of England. Milburn calls for urgent action, stating that the ongoing neglect of this crisis is unacceptable and that the promise of each generation doing better than the last is being broken. He urges a reevaluation of the systems in place to support youth.
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The economic burden of the 'Neet' crisis could strain public resources and affect local economies, particularly in the Midlands and North of England.
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