The Young Person's Guarantee aims to protect people from the economic impact of COVID-19 by offering every 16-24 year old in Scotland the opportunity of a job, apprenticeship, further or higher education, training programme or volunteering.
The announcement meets four of the commitments for the first 100 days of this government, and comes as a new report highlights the progress of the Young Person's Guarantee.
Since it was officially launched in November 2020 funding has been committed to create up to 18,000 training, job and apprenticeship opportunities for young people.
The £70 million of investment includes:
• £45 million for local partnerships to provide training, employer recruitment incentives, and mental health interventions for young people
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• £13.5 million for Colleges, Universities and the Scottish Funding Council to provide industry-focussed courses supporting up to 5,000 young people and employment support for 500 recent graduates
• £10 million for the roll-out of new school coordinators and enhanced school provision to support young people access education, work and training
• £1.5 million to increase places on volunteering and third sector programmes
During a visit to Young Movers, a youth charity based in Glasgow, First Minister Nicola Sturgeon said: "We know that young people have been badly affected by the pandemic and we are determined to do everything we can to support them. The Young Person's Guarantee is a vital part of that support which aims to give all young people the chance to succeed despite the economic impacts of COVID-19.
"This investment of £70 million, which meets four of our 100 days commitments, will also ensure employers continue to benefit from the fresh talent and new perspectives that young people bring to workplaces across Scotland."
Sandy Begbie, Chair of the Young Person's Guarantee Implementation Group, said: "Inclusion was at the core of the Young Person's Guarantee so I am particularly pleased by the increased opportunities created for young people who are furthest from the workplace.
"None of this could have been achieved without employers being engaged and I am delighted we have almost 100 employers and business groups signed up supporting the scheme. Our young people, who have been disproportionately impacted as a result of the pandemic, are an asset to Scotland and it has never been more important that we deliver against the Young Person's Guarantee."
