We are sticking to our plan to grow the economy and help young people gain the skills needed to succeed in life. The Prime Minister will today unveil a major package of reforms to create up to 20,000 more apprenticeship places and cut red tape for thousands of small businesses.
We 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 and also increase the amount of funding that employers paying the Apprenticeship Levy can pass onto other businesses. Large employers will now be able to transfer up to 50 per cent of their funds to support other businesses to take on apprenticeships, helping SMEs get the skilled workers they need.
Whether it’s cutting red tape for small businesses or helping businesses offer more young people apprenticeships – we are sticking to the plan to grow the economy and help young people gain the skills needed to succeed in life. Labour would take us back to square one with unfunded spending, higher taxes, and their policy would halve the number of apprenticeships.
