Apprentice levy bonanza for universities

♦ A loophole in an apprenticeship levy intended to help get young people their first job has created a gold rush for universities that are set to make millions by launching MBA courses for big companies’ existing staff.

The Government confirmed this year that the levy can be used to pay up to £18,000 for an employee’s “MBA apprenticeship”, leading to dozens of universities setting up courses aimed at business staff, the Times Education Supplement found. Critics say the levy should be aimed at those looking for a first job and not for senior staff to “polish their CVS” with an MBA.