Young people out of work for a year will be guaranteed a six-month placement

The government announced a new guarantee of six months' work or training for those under 25 who have been on jobseeker's allowance for more than 12 months. The initiative will cost £1.2bn.

A further £260m will be put into training young people in “high demand industries”, it was announced. The Treasury did not make it clear whether or not this included construction.

Skills experts in the UK building industry are, however, pinning their hopes on the opportunities for apprenticeship created by the money for new housing provided in the Budget.

Mark Farrar, chief executive of ConstructionSkills, said: “We support the government's decision to maintain its commitment to investing in training for young people, and hope that the £500m investment to kick-start the housebuilding sector can offer more opportunities for the retention and employment of apprentices.”