JIM Murphy will unveil plans to use taxes on bankers' bonuses to create job and training opportunities for unemployed young Scots.
The Scottish Labour leader will put the proposed "Scottish Jobs Guarantee" at the heart of an election pledge to create a "Scotland of opportunity for the next generation".
The jobs guarantee would benefit 5000 people aged 18 to 24 in its first year.
Under Labour's plans, young people coming up to year out of work will be promised training or a job paying the minimum wage.
According to the latest figures, 14,000 16- to 24-year-olds have been unemployed and not in full time education for more than a year.
The pledge builds on previous announcements to hand all 18- and 19-year-olds who take a job rather than go to university £1600 to spend on driving lessons or improving their skills.
Labour has also fees pledged to increase student bursaries by £1000 while ruling out a return to university tuition fees.
The pledges are dependent on Scottish Labour winning next year's Holyrood election and together would cost £1billion over the lifetime of the parliament.
The jobs guarantee mirrors a pledge south of the Border and would be funded from Scotland's share of a one off 50 per cent tax on bankers' bonuses and from cutting pension tax relief for high earners.
An earlier pledge by Mr Murphy, to hire an extra 1000 nurses for NHS Scotland, was also linked to taxes raised mainly down south.
He will make the announcement in a speech in the City of London today.
"This is an unprecedented investment in our young people, only made possible by harnessing the wealth of the whole of the UK, including the wealthiest in the City of London.
"It is a guarantee of opportunity that the SNP can't deliver because they don't believe in redistributing from South to North.
"And it is a guarantee that the Tories won't deliver because they do not believe in redistributing from rich to poor."
He will add: "We will use a new tax on the bonuses of bankers here in the City of London and in the UK's other financial centres.
"We will use that funding to guarantee a real job, at at-least Minimum Wage, and to guarantee training for every young person too.
"We offer the guarantee to all young people who are at risk of falling into long term unemployment.
"This will be a Scottish Jobs Guarantee, delivered by a distinct contract in Scotland, in partnership with employers, colleges and the Scottish Government."
Yesterday Mr Murphy said Labour would eliminate the need for food banks in Scotland with a £175 million anti-poverty fund.
He said the fund would be set up using money allocated in the Scottish budget to mitigate the so-called bedroom tax that would be saved as a result of his party's plans to abolish it if it wins the General Election.
The number of food banks run by the Trussell Trust charity in Scotland soared from one in 2011 to 48 at the end of 2014.
Mr Murphy was joined by shadow work and pensions secretary Rachel Reeves MP as they campaigned in Glasgow.
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