The UK government announced the Youth Contract Scheme, intended to get Britain’s youth working. Currently, there are over 1 million British youth on the unemployment register, and it is vital to get these people working. Is the new initiative likely to do this? Nick Clegg, Deputy Prime Minister has stated that Youth Contract Scheme will not be paid for by one single tax or saving measure, raising the question of how it will be financed. That should become clear on Tuesday, when George Osborne announces the Autumn budget. Up to 410,000 work and training placements will be created in England, Wales and Scotland by giving employers wage incentives equivalent to…