A new £170m fund, the Youth Employment Initiative, has just been announced
The Dept for Business Innovation & Skills has just announced that £170m is being made available to fund programmes for youth employment.
This new funding, the Youth Employment Initiative, will target five areas of the UK to help young people into work and will be split as follows:
- Inner London – £35.7 million
- Merseyside – £22.2 million
- Southwest Scotland – £38.6 million
- Tees Valley & Durham – £19.8 million
- West Midlands – £42.2 million
The fund will be matched by an equal amount from the European Social Fund and also by project partners, bringing the total funding to nearly £490 million.
This funding will flow through the Local Enterprise Partnerships.
There is no further information at present regarding the application or proposals process whereby LEPs will secure their allocation.
We’ll carry more news here as we hear it.
