The Apprenticeship Grant for Employers scheme (AGE) has been increased by £85 million in 2014-15 and 2015-16 to help businesses grow staff numbers.
In his Budget 2014 speech chancellor George Osborne outlined the coalition’s latest pro-apprenticeship policy announcement.
AGE’s framework means that employers which have not had an apprentice in the last 12 months can access a £1,500 grant for each of up to ten apprentices aged between 16 and 24 that are taken on. It is aimed solely at businesses which hire less than 50 staff.
Alongside the bolstering of AGE, Osborne also revealed £20 million of funding, over two years, to support apprenticeships up to postgraduate level. The ‘changing nature of the labour market’, the government says, is creating a demand for higher-skilled workers.
‘To make sure we give young people the skills they need to get good jobs in this modern world, we’ve doubled the number of apprenticeships and I will extend the grants for smaller businesses to support over 100,000 more,’ Osborne said.
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David Rudick, VP international markets at Indeed.com, says, ‘We are pleased to see the initiative announced today by the chancellor to provide 100,000 new apprenticeships in support of the existing government framework to help more of Britain’s unemployed into work.
‘There is no doubt that more needs to be done to smooth the transition between education and work for young people – a focus on apprenticeships is a welcome step in the right direction.
‘But this huge boost to apprenticeships must be supported by the careers advice that is delivered in schools. Schools and employers must work more closely together to demystify the job search process, and ensure that careers advisors are better equipped to offer the appropriate training and careers advice schemes.’
More on the Budget 2014:
