Cable pins hope on apprentice boost for youth

BUSINESS Secretary Vince Cable unveiled plans to increase the number of apprenticeships in order to tackle youth unemployment yesterday.

Small businesses of up to 50 staff will be offered cash incentives of £1,500 per apprentice they take on, which the government hopes will boost the number of spots by 20,000.

Cable also took time out to slam Germany for calling the UK’s opposition to a financial transaction tax “selfish”.

“I think the Germans are [taking] a completely unjustified position,” he told Reuters.

“Most of the revenue from a transactions tax would come from Britain, while the proceeds would flow into the European budget,” he said.

He added: “I don’t think, frankly, people in this country want to see a new tax on financial services -- which they will ultimately pay for -- being diverted into common market agricultural policy and roads that go to nowhere. That is not a sensible way of dealing with things.”