Budget Reaction - Skills & Apprenticeships

Both today’s budget and last month’s Apprenticeship Week revolved around the theme of ‘Build the Future’. With the skills gap in many sectors – especially engineering – reaching crunch time, the government needs to prioritise and support an apprenticeship programme that works for both candidates and businesses.

Paul Rose, Chairman and Director, Tadweld said: "Today’s announcement that apprenticeship incentive payments will be doubled to £3000, regardless of candidate age, is welcomed. Firms like Tadweld are committed to investing in skills, providing good jobs and building a strong future in our community.

"Building the future will not be possible if we do not nurture the skills we need. The economic impact of COVID has been felt most keenly by younger people, many of whom work in retail, hospitality and travel. Apprenticeships can provide these young people with a stable and rewarding career path.

"Today’s announcement improves the business case for apprenticeships. The government must now work with businesses across the country to ensure that there is sufficient interest from prospective candidates to fill apprenticeship opportunities that are vital to support the future of UK industry."

Elyn Corfield, regional ambassador for the North West at Lloyds Banking Group, said: “Measures that boost productivity and skills are key to generating inclusive growth across the UK. The £126m fund announced to support traineeships across England today should go some way towards helping young people to enter the workforce and increasing firms’ access to talent as they look to recover and reopen in the coming months.

“At Lloyds Bank, we have long championed businesses in the North West and are continuing to support the Greater Manchester Apprenticeship Levy Transfer Fund, which helps match larger employers with smaller businesses looking for essential funding to train new apprentices and develop their existing workforce.”