Nick Clegg targets Neets 'time bomb' Nick Clegg has pledged to deal with what he describes as the "ticking time bomb" of 16 and 17-year-olds who are not in work, school or training. The Deputy Prime Minister announced a £126 million boost to get teenagers back into employment or education as part of the coalition's Youth Contract scheme. Under the new initiative, charities and businesses will be invited to bid for contracts worth up to £2,200 to take young people on, receiving an initial payment up front, and more money when the youngsters show progress. At least 55,000 16 and 17-year-old "Neets" - not in education, employment or training - who have no GCSEs at grades C or above, are expected to benefit. "Sitting at home with nothing to do when you're so young can knock the stuffing out of you for years," said Mr Clegg. It is a tragedy for the young people involved - a ticking time bomb for the economy and our society as a whole. This problem isn't new, but in the current economic climate we urgently need to step up efforts to ensure some of our most troubled teenagers have the skills, confidence and opportunities to succeed.