On 25 October, the government set out how apprenticeships will be funded as part of the drive to help millions get the skills they need for a successful career. The new reforms will guarantee support from employers and government, and ultimately boost our economic productivity.
“The announcement from the Department for Education on apprenticeship funding is positive news for the smaller bodyshops (less than 50 employees) in the sector”, comments Jason Moseley, Director of RMI Bodyshops (NAB & VBRA), the UK’s trade association for vehicle repairers.
Measures confirmed highlight that 100 per sent of training costs will be paid by government for employers with fewer than 50 employees who take on apprentices aged 16 to 18 years old. As well as this, there will be a 100 per cent contribution from government to the cost of training for small employers that will not pay the levy and who take on apprentices who are 16 to 18 years old, 19- to 24-year-old care leavers or 19- to 24-year-olds with an education and health care plan
Moseley continues, “Apprenticeships are critical for our industry. Allowing employers a longer period of time to spend their funds and recognising the cost of investing in higher quality STEM apprenticeships are two important features in creating a funding programme that will reward employers investing in high-quality training for the long-term.
“We now look forward to seeing the financial benefits this will bring to small businesses once the levy is introduced in 2017.”