£18bn of value will be delivered to the economy by the Work Programme, report estimates1st September 2014
A new report, ‘The Economic Impact of the Work Programme’, by Europe Economics is the first study to look at the economic benefits of the Work Programme and the added financial value it delivers to employers, employees and the taxpayers.
The report was commissioned by the Employment Related Services Association, the representative body for the employment support sector’, to mark the third anniversary of the Work Programme and the launch of a greater focus – ‘Proud to Work’ – on the employers and employees who have benefited from the Work Programme.
The figure of £18bn refers to the value to the economy provided over the lifetime of the workers on the programme who would not have otherwise found work. Of the £18bn total:
• £7bn will be delivered to workers
• £7bn will be delivered to the government
• £4bn will be delivered to employers
Around 300,000 workers have found lasting work while on the Work Programme. Europe Economics estimates that around 100,000 jobs for the long term unemployed would not have taken place without the programme.