We want to help businesses train the workers of the future as well as giving older workers the skills they need in a changing economy.
That’s why we’re doubling funding for apprenticeships to £2.45 billion by 2019-20.
Last year we introduced the Apprenticeship Levy to help create more new apprenticeships and support high-quality training.
Today we’ve announced some improvements to the scheme – increasing the flexibility and quality of the programme.
Employers who pay the apprenticeship Levy will be able to transfer up to 25 per cent of unspent funds to businesses in their supply chain.
Helping to create opportunities in lots more small and medium sized businesses.
The new opportunities will also be backed by £150 million of additional funding.
We’re also giving £5 million more funding to the Institute for Apprenticeships and the National Apprenticeship Service.
This will speed up the approval of new, higher-quality apprenticeship standards being designed with industry.
Giving everyone the opportunity to fulfil their potential no matter what their background.