IN BUSINESS New levy makes sure apprenticeships pay
ANEW levy requires Halton employers with a wage bill of more than £3m to pay 0.5% of it towards funding apprenticeships.
The Government has launched the measure as part of the biggest shakeup of skills for a generation.
The money will be invested in quality training for apprentices and double the annual investment in apprenticeships in England to £2.5bn by 2019 to 2020, compared with 2010 to 2011 levels.
Employers in the borough can set up an online account to manage their funds and invest in training for apprentices working for them.
The Government will then provide a further 10% top up to levy contributions each month into employers’ accounts.
A Department For Education (DFE) spokesman said the levy will encourage employers to invest in high-quality apprenticeships ensuring even more people have a chance to reach their full potential.
Support will also be provided for smaller employers in Runcorn and Widnes with an annual pay bill below £3m and therefore not required to pay the levy.
The Government will pay 90% of the costs of training and assessing their apprentices.
In addition, companies with fewer than 50 employees taking on apprentices aged 16 to 18 will have 100% of their training costs paid for.
Skills Minister Robert Halfon said: “There has never been a more important time for Britain to invest in the skills of our people and businesses.
“To make Britain stronger and fairer, we need to make sure that everyone gets the chance to climb the ladder of opportunity to gain the education and skills they need to be successful in life.
“Our apprenticeship levy is a mas- ● sive part of this.
“More than 90% of apprentices go into work or further training, and the quality on-the-job training on offer will make sure we have the people with the skills, knowledge and technical excellence to drive our country forward.
“Building an apprenticeship and skills nation is essential in ensuring that we have the home-grown workforce we need in post-Brexit Britain to address the skills shortages facing industry and give everyone the chance to succeed.”
In addition to the levy, the Institute For Apprenticeships was also launched to ensure all apprenticeships are top quality and deliver the skills employers need.