The guarantee, which was first announced in last year's Budget, promises a job or training to every 18- to 24-year-old who has been out of work for six months or more. It was due to be extended into 2011/12 at a cost of £450m. But Chief Secretary to the Treasury Danny Alexander said this extension will no longer go ahead, as he also cancelled 11 other projects agreed to by the previous government since the start of 2010.
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