The money will be used to extend the Department of Work and Pensions (DWP) Programme, which tackles the problems youths face in securing a job.
The Government acknowledges that young people lack the skills employers look for and is working with businesses to help provide young people with their first taste of work.
500,000 new opportunities, such as apprenticeships and work placements, will be offered to young people through the so-called Youth Contact.
Cash payments will be available to businesses when they employ a 18-24 year-old from the Work Programme.
Jobcentre Plus will increase its support through weekly, as opposed to fortnightly, signing-on meetings, which will give the unemployed more time to talk to advisors.
Optimism for Jobs Emma L Brown |
40,000 new businesses will be supported by the New Enterprise Allowance, which is designed to give financial aid and expert advice to the long-term unemployed, who want to launch their own business.
Sector-based work academies have already been launched to provide youths will relevant training, work experience and a guaranteed interview with a prospective employer.
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