TAX-MAN Joe has lodged a fiscal firecracker under the young, old and perpetually unemployed, with $1.2 billion in incentives to fling Australians off the dole and into the workforce.

In a four-year budget with cut-backs projected across 12 of the government's 18 portfolios, employment was one of the few sectors in line for an increased spend - of 5.1%.

At the same time, the budget hacks 30.5% off the job-creating industry and science portfolio's funding over the next four years.

Treasurer Joe Hockey, who has three children of his own, announced a $331 million strategy to get under-21s job-ready and pushed into employment, with a focus on migrants, parents and youths suffering mental illnesses.

>> READ MORE ABOUT THE FEDERAL BUDGET

A $6500 one-off payment will be available to businesses that hire under-30s, indigenous people, parents returning to work and the long-term unemployed.

Employers who give a job to workers aged 50 or older will be entitled to a $10,000 incentive payment and a never-ending pool stirring stories of yesteryear's exploits.

But the coming four years are looking grim for young punks who want to live off their parent's hard-earned tax money.

Those looking to live high on the dole hog will be forced into a temporary month-long starvation, with the introduction of a four-week waiting period before unemployed under-25s can access government welfare.

Early school leavers will also be forced to undertake 25 hours per week of education, or a combination of schooling and part-time work, in order to get the dole.

- APN NEWSDESK