- Since 2010, the Conservative Government have created a world-class apprenticeship system, delivering over 5.7 million apprenticeships since 2010 and offering more opportunities for young people to gain the skills they need to succeed and helping to grow the economy.
- Building on this strong track record, the Prime Minister has announced that the Conservative Government will fully fund apprenticeships for young people in small businesses from 1 April 2024 and increase the amount of funding that large employers who are paying the Apprenticeship Levy can pass onto other businesses from 25 per cent to 50 per cent.
- The Conservative Government is sticking with the plan to provide more opportunities for young people, ensuring everyone can get the skills they need to secure high-skilled jobs and build a brighter future.
Mario has welcomed the Conservative Government's major package of reforms to support businesses to deliver more apprenticeship places, benefitting local small businesses and young people across Surrey.
Backed by £60 million of new Government funding for 2024-25, the Conservative Government will fully fund apprenticeships in small businesses from 1 April by paying the full cost of training for anyone up to the age of 21 – reducing costs and burdens for businesses and delivering more opportunities for young people to kickstart their career.
The Conservative Government will also increase the amount of funding that large employers who are paying the Apprenticeship Levy can pass onto other businesses – from 25 per cent of their unused Levy to 50 per cent. Taken together, these measures are expected to enable up to 20,000 more apprenticeships, unlocking the opportunities our young people deserve.
This builds on the Conservative Government’s strong track record of creating a world-class apprenticeship system, with over 5.7 million people starting an apprenticeship since 2010.
The Conservative Government is sticking with the plan to create opportunities for young people while supporting small businesses, building a brighter future where everyone can fulfil their potential.
Commenting, Mario said:
“Since the Conservatives came into office in 2010, we have already seen 4,710 young people across Surrey start an apprenticeship, meaning hundreds more young people have gained the skills they need to secure good jobs.
“Today’s announcement will build on that progress to support even more young people to fulfil their potential, while also helping small businesses make the most of our fantastic local talent and grow the economy.
“The Conservative Government is sticking with the plan so that every young person has the opportunity to succeed, building a brighter future for the next generation.”
Commenting, Prime Minister Rishi Sunak said:
“Growing up in my mum’s pharmacy, I know first-hand how important small businesses are. Not just for the economy, but as a driver for innovation and aspiration, and as the key to building a society where hard work is always recognised and rewarded.
“Whether it’s breaking down barriers and red tape for small businesses, helping businesses hire more young people into apprenticeships and skilled jobs or empowering women to start up their own businesses – this government is sticking to the plan and leaving no stone unturned to make the UK the best place to do business.
“Taken together, these measures will unlock a tidal wave of opportunity and make a real difference to businesses and entrepreneurs across the country.”
Commenting, Education Secretary Gillian Keegan said:
“This Government has built a world-leading apprenticeship system from the ground-up – with apprenticeship opportunities in almost 70 per cent of all occupations across the whole country.
“Apprenticeships are a fantastic way for businesses to develop the skills they need, and for young people to access exciting career opportunities .
“Our plan to deliver a high-growth, high-skilled economy is working, with more opportunities available to young people than ever before.”
- The Conservative Government have announced they will fully fund apprenticeships in small businesses from 1 April 2024 by paying the full cost of training for anyone up to the age of 21. This new measure will remove the need for small employers to meet some of the cost of training and saves time and costs for providers like further education colleges who currently need to source funding separately from the Government and businesses – delivering more opportunities for young people to kickstart their careers (DfE, Press Release, 18 March 2024, link).
- The Conservative Government are increasing the amount of funding that large employers can transfer to support other businesses, including smaller firms, from up to 25 per cent to up to 50 per cent so they can take on more apprentices. This will help SMEs hire more apprentices by reducing costs and enabling more employers to get the skilled workers they need while unlocking more opportunities for young people in a huge range of sectors, industries, and professions ((DfE, Press Release, 18 March 2024, link).
- The Conservative Government are increasing investment in apprenticeships to £2.7 billion by 2024-25, ensuring businesses have a pipeline of talent to grow the economy. The Conservative Government are increasing investment to apprenticeships to £2.7 billion by 2024-25, ensuring businesses have a pipeline of talent to grow the economy (DfE, Press Release, 4 February 2024, link).
- The Conservative Government have spent 98 per cent of the levy delivering apprenticeships in the last two years. The Government introduced the apprenticeship levy in 2017 and in the last two years, 98 per cent of the levy has been spent on average (Hansard, 17 January 2024, WPQ 10104, link).
- Under the Conservative Government, almost 5.7 million people have started an apprenticeship since May 2010, giving people the skills they need for the workplace. Since we came into office in 2010, there have been almost 5.7 million apprenticeships starts (DfE, Press Release, 4 February 2024, link).
Photo by Danist Soh on Unsplash
