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Prime Minister Gordon Brown pledges funds to train unemployed

On Monday Prime Minister Gordon Brown offered employers new incentives to hire and pledged new funds to train those who lose their posts. At a "job summit" in London, Brown promised industry leaders short term help in return for a longer term focus from British business to develop the high-tech and environmental industries.

The Prime Minister said as many as 1 billion new skilled jobs are likely to be created worldwide in coming years - largely in environmental technology, advanced manufacturing, health care and education. Welfare and Pensions Secretary James Purnell said the government would invest 500 million pounds to provide new training to people out of work for more than six months.

Brown said companies which agree to hire people previously out of work for more than six months would receive a 2,500 pounds payment from the government. He then went on to say that he believes British industry can capitalize on an increasing demand for high-tech goods and services from economies in China, India and other parts of Asia.

"I want Britain to be ready to seize these new opportunities and secure a large share of the new global wealth," Brown said.

Despite gloomy forecasts, Brown said Britain's economy has around 500,000 job vacancies - with 10,000 new vacancies created every day. Brown pointed to an announcement by Morrison Supermarkets PLC, the U.K.'s fourth largest supermarket, that it was creating 5,000 new jobs over the next year. The store had previously announced it was likely to begin hiring staff as it expands its number of stores.

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