It will be interesting to see what today’s GDP figures tell us about the state of the UK economy in the months leading up to the EU referendum.
Positive or negative, I want to highlight another set of figures released yesterday (July 26) which reveal how the economy has gained a significant boost from an unexpected quarter – a charity.
Research by NEF Consulting shows that The Prince’s Trust has made a £1.4billion contribution to society over the last ten years. It’s done this by moving young people out of unemployment and into outcomes which ultimately benefit the economy.
Since 1976 we have supported 825,000 young people, with three in four achieving a positive outcome – moving into education, employment or training. As well as helping over 80,000 young entrepreneurs to set up in business, it has supported some of our most vulnerable young people to get off benefits and start learning or earning.
By working at a grassroots level, The Trust has helped generate green shoots where there might have been nothing, and these young people have gone on to be real financial benefit to the UK as a whole. Whatever times lay ahead for the UK economy, The Prince’s Trust will be there for the next generation of young people who need our support to flourish.
Jonathan Townsend, North of England Director at The Prince’s Trust