Cameron to use £227m Deutsche Bank fine to fund 50,000 apprenticeships

Scheme will target unemployed 22-24-year-olds

The prime minister is due to speak on the latest GDP figures today, during which time he’ll announce a new plan for spending the massive £227m fine given to Deutsche Bank for rigging the Libor rate.

According to The Guardian, David Cameron will brand Deutsche Bank as “part of Labour’s failed past” and say he is “taking the money off a bank that tried to rig the market and using the money to get young people off the dole”.

The Guardian says that he will make a speech claiming: “To govern is to choose. Every choice we make, every decision we take, Conservatives ask ourselves some simple questions: are we rewarding work, or not? Are we helping working people, or punishing them?

“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. This is about taking money off those who represent Labour’s failed past; and giving to those who through their hard work and endeavour can represent a brighter Conservative future.”

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