By Jonathan Davies

The Conservatives would fines imposed on Deutsche Bank to fund an extra 50,000 apprenticeships, if it wins the general election, Prime Minister David Cameron has said.

Deutsche Bank was last week fined a combined $2.5 billion by US and UK authorities over its involvement in the manipulation of interest rates.

The Financial Conduct Authority (FCA) fined the German bank £227m. And the Conservatives would use that money to fund an extra 50,000 apprenticeships - on top of the three millions already pledged by the party.

The scheme would "train young people and get them off the dole and in to work".

After launching the party's small business manifesto yesterday, in which he reiterated commitment to trebling start-up loans and investing in broadband, Mr Cameron will say in a speech announcing the apprenticeship scheme: "We're going to take the fines from the banks who tried to rig markets - and we're going to use it to train young people and get them off the dole and into work."

He is expected to say: "This is about offering hope, spreading opportunity, sharing prosperity - it's about securing a better future for you, your family and for Britain, and from now until polling day I'm going to fight for that future with every ounce of energy in my body."

Labour said the number of young people in apprenticeships had gone down over the past year.

Shadow business secretary Chuka Umunna said: "At the same time, we've seen the quality of apprenticeships undermined. One in five apprentices is receiving no formal training, while almost four in ten firms are unaware the in-work training they provide is branded as an apprenticeship by the government.

"The Tories have failed to match Labour's plans to guarantee an apprenticeship place for every school leaver who gets the grades, use government procurement to create thousands of new apprenticeship opportunities and safeguard apprenticeship quality."

The Liberal Democrats have said they would double the number of businesses offering apprenticeships to 360,000.