§ Dr. KumarTo ask the Secretary of State for Education and Employment what resources and money are being made available to help people who are aged 50 years and over, who are not working, to set up their own businesses; and if he will make a statement. [128804]
§ Ms JowellPeople aged over 50 who are looking for work and are considering self-employment may be eligible for Work Based Learning for Adults. This programme provides: initial support and advice; awareness of the implications of self-employment; help to develop business plans; appropriate skills training; and ongoing mentoring while in training. The budget for Work Based Learning for Adults for this year is £316 million for England.
New Deal 50 plus provides practical advice and financial support for people moving back to work and this support extends to those who become self-employed or set up in business. The Employment Credit of £60 a week for up to a year for those working full-time and the 196W in-work Training Grant of up to £750 provide vital financial support for the individual in their first year back in work. The budget for New Deal 50 plus this year is £120 million for Great Britain.
In addition, from April next year, New Deal 25 plus will be offering a dedicated route into self-employment.
The Department for Education and Employment is also helping to fund PRIME, an initiative modelled on the Prince's Trust. PRIME intends to offer advice and financial support for people over 50 wishing to set up their own business.
My right hon. Friend the Secretary of State for Trade and Industry is providing information about help provided by DTI programmes.