UK risks £125bn hit a year from youth unemployment, landmark report says

Alan Milburn warns of ‘lost generation’ after number of young people not in work or education rises to more than 1m

Britain risks a financial hit worth £125bn a year from a worsening crisis in youth worklessness after a rise in the number of young people not in employment or education to more than 1 million.

In a landmark government-backed report, Alan Milburn warned that Britain’s economy and the public finances were losing billions of pounds a year amid the growing risk of a “lost generation” of young people.