More than $1 million has been made available for unemployment initiatives through a bill passed by the House of Assembly.Premier and Finance Minister Paula Cox tabled the Public Treasury (Administration and Payments) Amendment Act, which will give Government access to $1 million it stashed away back in 2002.The money will be spent on programmes including courses for the unemployed at the Bermuda College, according to Ms Cox. She explained the funds were contributed by Government in the 200⅔ budget year with the anticipation that an unemployment insurance fund would be established to provide periodic payments to the jobless.It was later decided not to proceed with this as it was felt that the Financial Assistance scheme provided enough of a safety net.However, she said that the funds accumulated in the unemployment insurance fund at that time will now go to the assistance of Bermuda’s jobless. This necessitated the amendment act passed in the House of Assembly yesterday.The funds have accrued interest over the years and are now worth $1.15 million.Debating the legislation, Shadow Finance Minister Bob Richards commended the measures but called the Act “only a temporary solution”.He said Bermuda’s unemployed were jobless not through a lack of qualifications but a lack of economic development.Mr Richards added: “One million will not go far in today’s environment. We have to deposit into this fund, because there’s not much money left in Government.”Progressive Labour Party MP Wayne Furbert also complimented the Act, calling it “creative”, and told Mr Richards: “There are a lot of jobs out there; it’s just that some are not being applied for.”Mr Furbert gave the hotel industry as an example. “You have to think outside the box during this period of time,” he said.Community Development Minister Michael Weeks promised that details on the creation of a Job Corps would come soon.PLP MP Walter Lister echoed praise for the Act, saying: “The Minister of Finance has her hand on the tiller.”Youth Minister Glenn Blakeney called the Act “a work in progress that will be an incredible opportunity for people in our community who are stressed out because no matter what effort they have made to find employment, they have not met with success”.Mr Blakeney said it would give the jobless in the 17-25 age bracket a chance to “earn as you learn”.Shadow Education Minister Grant Gibbons questioned how an unemployment fund set up with $1 million in 2002 had gathered so little interest since.He also asked how much would be spent, and if Ms Cox intended for the fund to be dissolved entirely if all the money were used.Dr Gibbons added: “As Government looks for ways to spend all this money, I hope they won’t forget to fulfill promises and keep the National Training Board programmes going.”United Bermuda Party MP Charlie Swan wondered if the fund, which “must have looked like manna from heaven”, could have built up more if it had been differently invested. Mr Swan also questioned if all of it would be spent.UBP leader Kim Swan said he supported the legislation, but called for as much of the money to be saved as possible.“We can’t put through legislation like this and not build upon it,” Mr Swan said, calling for a commitment to build on the initiative.“We need provisions to catch those who are falling through the cracks, so that people can get some assistance, and not ad hoc measures,” he said.Opposition Leader John Barritt called it ironic that Government had not set up an unemployment insurance fund earlier, because financial assistance was thought to be sufficient.“One can draw from that the inference that financial assistance is unable to assist those in trouble today,” he said.Ms Cox responded the money held in the fund had not “just been found”, but had appeared regularly in financial statements.Originally, she said, the fund was seen as “not useful in the scheme of things”.“We now have a situation of need, and will be using the funds. We will be running it down in terms of spending.”The Premier said the Minister with responsibility for Labour would be the “gatekeeper” in terms of key responsibility in the use of the funds, but that other Ministries would have access to them as well.Responding to Mr Richards’ statement on the lack of job development, she said there was a need for retraining.“Some jobs have contracted, not just for the short term.”She called the jobs and training initiatives a “short, sharp shot in the arm”.Shadow Public Works Minister Patricia Gordon Pamplin said: “If the intention is to return people to work, I think this should be a little more specific.”Dr Gibbons said that he understood that the intention was to pay out the $1.15 million “and when there is nothing left, the Minister will come back and wind up the fund”, to which Ms Cox agreed.The matter was then put to a vote, and it was unanimously agreed that the bill should pass.