The UK Treasury has announced that starting from April, 13 selected apprenticeship programs will receive an extra £3,000 per apprentice.
This boost is part of a two-year pilot project worth £50 million, aimed at specific apprenticeships in what the government sees as important sectors for economic growth.
This announcement comes after the Chancellor’s Autumn Statement in November 2023 where the UK government pledged £50 million to increase the number of apprentices in key sectors facing skills shortages.
Which apprenticeship programmes will receive the funding boost?
The chosen apprenticeships are in areas that the Treasury believes will contribute significantly to economic growth.
These include programmes like the level 4 construction design and build technician apprenticeship; the level 3 pipe welder apprenticeship; and the level 3 water environment worker apprenticeship.
With this boost, some apprenticeships could receive up to £30,000 per apprentice. This extra money on top of the usual funding that training providers receive. However, to access this additional funding, training providers must have a minimum of 15 apprenticeship starts.
How much is the additional apprenticeship funding costing the taxpayer?
Based on apprenticeship start numbers from the previous year, the extra funding would cost around £6.7 million per year from the pilot fund. The government hasn’t yet announced how the rest of the pilot fund will be used.
What can the additional funding be used for?
The Treasury expects that this extra funding will be used for capital investments in sectors that typically don’t receive government funding. This could include things like buying equipment or machinery for training purposes.
What’s next?
More detailed information about eligibility criteria and how training providers can access this funding is expected to be released later this month.
