David Cameron announced £250m boost for skills training
The Prime Minister has announced a new plan which will give businesses the power to design, develop and purchase the vocational training they need. This announcement forms part of the government’s growth review.
In the New Year employers will be invited to bid for a share of the £250 million government fund. It will route public investment directly to employers – enabling them to invest in the training they actually need.
The competitive fund will route public investment directly to employers and will be backed by significant resources from existing skills budgets. Funding for 2012/13 will be up to £50m, with an additional £200m in the second year – subject to evidence of high-quality proposals from employers and ongoing evaluation.
Prime Minister David Cameron said:
“I know times are tough – especially for young people – who are trying to get their foot in the door and launch their career. That is why I am determined to do all that we can to give people the very best skills, training and opportunities to succeed; and why despite tough spending decisions we are investing in record number of apprenticeships.
“We are seeing an incredible take up of these apprenticeship places. I want that to continue, which is why we are taking action to make it easier to take on apprentices, and now we are giving employers the power to take control of the training so that it best meets the skills they need.
“I hope this radical new approach will encourage even more employers to take on apprentices and ensure that the UK workforce has the skills we need to boost growth.”
Business Secretary Vince Cable said:
“Skills are central to the UK economy and our long-term competitiveness. Despite some good progress our system needs more flexibility and we are treading water by international standards.
“We have to fundamentally alter the relationship between employers and the state – giving employers the space and opportunity for greater ownership of the vocational skills agenda, including the chance to bid for direct control of public funds. This will encourage greater competition in the market as we strive for sustainable growth.”
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Amanda Frewin
Research & Project Support
David Cameron announced £250m boost for skills training
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David Cameron announced £250m boost for skills training
The Prime Minister has announced a new plan which will give businesses the power to design, develop and purchase the vocational training they need. This announcement forms part of the government’s growth review.
In the New Year employers will be invited to bid for a share of the £250 million government fund. It will route public investment directly to employers – enabling them to invest in the training they actually need.
The competitive fund will route public investment directly to employers and will be backed by significant resources from existing skills budgets. Funding for 2012/13 will be up to £50m, with an additional £200m in the second year – subject to evidence of high-quality proposals from employers and ongoing evaluation.
Prime Minister David Cameron said:
Business Secretary Vince Cable said:
Read more
Amanda Frewin
Research & Project Support