Apprenticeship funding changes – key points highlighted
Changes proposed by the Dept. of Education to Funding Apprenticeships could benefit your business says the UKWA.
In spring 2017 the way the government funds apprenticeships in England is changing. Some employers will be required to contribute to a new apprenticeship levy, and there will also be changes to the funding for apprenticeship training for all employers.
These are important changes that will benefit the industry and are expected to increase apprenticeship take up by SMEs.
Here are some of the key points:
• Government will pay 100% apprenticeship training costs for some 16-18yr olds.
• £1000 grant for employers taking on 16-18yr olds on Apprenticeship Standard.
• Opportunity for some employers to ‘co-invest’ 10% of apprenticeship training costs.
• Government will co-investment in training apprenticeships at a higher level.
• Available funding for Apprenticeship Standard, where employers pay the levy.
