A new initiative, the Youth Jobs Path program, will provide $752 million to get people under 25 and currently on employment benefits trained to enter the workforce.
The cornerstone of this will be an internship program, from July 1 next year, that will see job seekers get hands-on work experience.
About 30,000 places will be available each year, and each intern will work 15 to 25 hours per week and receive $200 a fortnight on top of their regular welfare benefits.
Prospective interns will need to have been looking for a job for at least six months.
The Government will also expand the New Enterprise Incentive Scheme (NEIS) to encourage self-employment and entrepreneurship, including by providing mentors and workshops on "being my own boss".
The number of NEIS places will rise, and it will also be made available to recently retrenched workers.
The Government also expects the introduction of a compulsory rent reduction scheme for people living in subsidised housing while on welfare benefits will reduce the number of evictions.
