Spring budget 2018 focuses on skills development measures
Source: Staffing Industry Analysts
Chancellor Phillip Hammond announced his 2018 Spring Budget yesterday which addressed skills-related measures as well as GDP growth.
Addressing skills-related spending Hammond said, “As our economy changes, we must ensure people have the skills they need to seize the opportunities ahead.” He then announced £500 million a year for T-levels, new technical qualifications that allow 16 to 19-year-olds to study in 15 different sectors. Hammond also announced £50 million to help employers roll out placements for T-level students.
Hammond also stated, “We’re committed as a government to delivering 3 million apprenticeship starts by 2020 with the support of business through the apprenticeship levy. But we recognise the challenges the new system presents to some small businesses looking to employ an apprentice. So I can announce today that my Right Honourable Friend the Education Secretary will release up to £80 million of funding to support those small businesses in engaging an apprentice.”
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