Clegg announces £1 billion fund to tackle youth unemployment

A £1 billion scheme to help more than 400,000 young jobless people into employment and training has been announced by deputy prime minister Nick Clegg today.The Youth Contract initiative will provide 160,000 six-month wage subsidies and boost the number of internships and apprentices for under-25s over the next three years, in a bid to get “every unemployed young person working or learning again".