Tories ‘to fund apprenticeships with bank fines’

The BBC is reporting that David Cameron has announced a Conservative government would use fines imposed on Deutsche Bank for rigging interest rates to fund 50,000 apprenticeships…

The Conservative leader said the scheme would “train young people and get them off the dole and in to work”.

It comes on top of three million apprenticeships the party has pledged over the next Parliament if re-elected.

Labour said the number of young people starting apprenticeships had fallen…

The Conservatives’ latest apprenticeship pledge will target people aged between 22 and 24 who have been unemployed for more than six months.

The £200m cost of the scheme will be paid for out of the £227m fine that Deutsche Bank received earlier this week for trying to manipulate Libor and Euribor inter-bank lending rates.

Mr Cameron said: “We’re going to take the fines from the banks who tried to rig markets – and we’re going to use it to train young people and get them off the dole and into work…”

 

Anything of substance here or another party-political pre-election gimmick?

Thoughts and reactions? Please let us know in the comments or via Twitter…

 

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