Next Gen News

. Plan includes tools and learning

. 500,000 young unemployed more than three years

Clippings family tax credits system will pay for, said the work

Nick Clegg, has announced £ 1 billion in new funding to help prevent another lost generation of young people without work.

deputy prime minister said the project was designed to ensure that those born in the boom is not "bear the burden of the past" and that helps young people find work was a matter of "intergenerational justice".

Money - who spent more than three years -. Provide opportunities and employment assistance, learning and work experience for unemployed 500 000

Work

said the move represents a U-turn and was in effect a revised version of its funds for future jobs, canceled by the coalition government at the time of office.

But the remarks during a series of interviews on Friday, Clegg said his contract system was very different from the young and on a scale unprecedented "for a very long".

initiative is that statistics show that nearly one in five 16 - to 24 (1,163,000) are not in education, employment or training -. An increase of 137,000 over this period last year

The government will subsidize 160 000 jobs, providing £ 2,275 for any private company willing to hire from 18 to 24 years unemployed.

assumed

Every young person will need to complete the placement or deny benefits. Each grant for a period of six months and will be available to all young people who were on the allocation of job seekers for nine months. All employers are required to pay at least minimum wage and the subsidy of more than cover the cost of national insurance from an employer.

The Liberal Democrats said the plan was different future jobs fund, it will not work in the public sector, offering a grant of less employment and can lead to permanent jobs.

Clegg said the work system had failed because he had created "here today, gone tomorrow" jobs.

"Basically subsidized jobs mainly on the government payroll in the public sector," he told BBC Breakfast. "What we are doing something completely different.

"When me and my design team of this scheme ... Looking closely at what employers, he said, and I said, "If you give us some help at the beginning to use the initial costs of employing a young person, then we will always have a good luck to work for young .'"

The coalition declined to specify the source of the £ 1 billion, but denied reports that funding may come from a freeze on tax credits. The chancellor, George Osborne, provides the source of funds in its statement Tuesday autumn.

asked where the money is to fund the initiative, Clegg told BBC Radio 4 Today program does not come from "private savings". "All I can rule out is that it is not paid £ 1 billion for a particular tax change or a change particularly well," he said. "It's not how it works.

"What you see on Tuesday [in the declaration of the fall of the Chancellor] - and the chancellor, of course, make all clear, then - is to make some spending commitments and certain savings commitments and balance. "

the question of whether the money comes from a tightening of credit, Clegg said: ". I do not deny for a minute that will continue to be difficult decisions, and will be distributed as evenly as possible "

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