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Bates calls for dormant money to support vulnerable young people
May 12, 2009 12:00 AM
Montgomeryshire AM Mick Bates has called on the Welsh Government in the Chamber to take more action to investigate the use of money in bank accounts, released under the Dormant Bank and Building Society Accounts Act, to support vulnerable young people with more investment in skills and opportunities to help young entrepreneurs to establish new business during the time of recession.
Commenting in the Chamber Mick stated:
"Vulnerable young people across Wales are at risk of suffering the most from the current recession, with a lack of jobs, a lack of support for young entrepreneurs and a lack of investment in the skills needed to help their transition into the work place.
"If the Labour-Plaid Government continues with its plan to abolish the Tuition Fees Grant then young people will be more vulnerable than ever as this move could see students graduating and starting their working lives shackled with over £20,000 of debt.
"Abolishing the Tuition Fees Grant will leave little incentive for bright Welsh students to stay in Wales at a time when we should be trying to retain as many skilled students and graduates as possible in order to prepare for future economic growth.
"We must ensure that we have the jobs for young people and support for young entrepreneurs so that they are not left stranded after leaving school or university. I urge the Welsh Government to investigate the potential for using money that will be released under the Dormant Bank and Building Society Accounts Act, to support young people across Wales and prepare our young work force with the skills that will carry us into a brighter economic future."
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