Chancellor George Osborne has announced the doubling in number of planned university technical colleges from 12 to at least 24.

The UTC’s will provide technical training for 16-24 year olds who are experiencing the highest unemployment since records began in 1992 as numbers approach one million.

The Chancellor said he would fund an extra 40,000 apprenticeships, plus 10,000 higher level training places.

The Chancellor is making £180m available for up to 50,000 additional apprenticeship places over the next four years which would provide additional roles for young unemployed people.

Carmen Watson managing director of leading recruitment Pertemps Recruitment Partnership said: “I welcome the Chancellor’s announcement and specifically the focus on the ‘lost generation’.

“The Chancellor’s commitment to re-establish prospects for this age group is vital in helping Britain increase its competitiveness within the global economy, and continue to make the UK more attractive for businesses. “