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Labour pledges jobs guarantee 'throughout next Parliament'

Labour's flagship jobs guarantee would be in place throughout the next Parliament, paid for by a bankers' bonus tax and a squeeze on high-earners' pension pots, the party said.

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Labour extend jobs guarantee to five years

Labour's promise to introduce measures to get the long-term unemployed and under-25s into work would last throughout the next Parliament, the party said.

The scheme would target those out of work for more than a year, Labour said. Credit: PA

Ed Miliband's party will promise to fund the package via a tax on bankers' bonuses and high-earners' pensions in its 2015 manifesto.

Last month the party confirmed reports that funding - also including the proceeds of restricting pension tax relief for high earners - was only in place for 2015/16.

Now it says the scheme - estimated on present claimant levels to cost £1.9 billion in its first year and £900 million a year thereafter - is affordable right through to 2020.

Under the scheme, under-25s on Jobseeker's Allowance for more than a year - two years for others - would have to take a taxpayer-subsidised job for six months or risk losing benefits.

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