Chancellor Rishi Sunak delivered his spring budget today and confirmed a number of new investments for the FE and skills sector.
They include a doubling of apprentice incentive payments for employers, a further boost to traineeships, and a new “Help to Grow” scheme for small businesses to upskill.
FE Week has the key points:
- Cash incentives for employers to hire new apprentices doubled
Apprenticeship financial incentives were first introduced by Sunak in August and currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over are paid £1,500.