- Friday, April 26, 2024
By: Pramod Thomas
THE UK on Wednesday(27) announced a £1000 funding scheme for employers to take new trainees.
Apprenticeships and skills minister Gillian Keegan said that the cash boost will help businesses with the cost of providing a high-quality work placement for a trainee, and will be available until 31 July 2021.
Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on with up to a maximum of 10 trainees. Employers can claim the cash incentive for all work placements that have been completed since 1 September, a statement said.
The traineeship programme has already helped nearly 120,000 young people get on the path to a great career since 2013. Recent figures show that 66 per cent of trainees get a job, take up an apprenticeship or go on to further study within six months of completing their programme.
The programmes last between six weeks and twelve months, and focus on developing vital employability skills, alongside additional English, maths and digital skills, combined with a work placement lasting a minimum of 70 hours.
Chancellor Rishi Sunak said: “My number one priority is to support, protect and create jobs, which is why for the first time ever we’re giving businesses £1,000 to cover the cost of trainee work experience, because we know that traineeships are a proven way to give young people the skills and opportunity, they need to be ready for work.
“We also know that our young people will be vital in the national effort to recover from the pandemic, so I urge businesses to seize this opportunity and help us harness the talent of our young people and offer hope for the future.”
According to minister Keegan, the cash boost will help employers of all sizes provide more traineeship opportunities.
“I strongly encourage as many employers as possible to apply now and take advantage of this fantastic offer so more young people can gain the skills they need to progress in their careers as we build back better from the pandemic,” she said.
The currently running apprentice scheme offers employers £2,000 for each new apprentice they hire aged under 25, and £1,500 for apprentice aged 25 and over.
More than ten thousand employers have already taking up the offer, which is available until March 2021.
The government’s £2 billion Kickstart Scheme is also creating hundreds of thousands of new, fully subsidised jobs for young people across the country.
