Apprenticeships given a BOOST by the Chancellor

As the UK tentatively recovers from the impact of Covid-19, the Chancellor has introduced measures to help employers stimulate their respective industries by attracting talent through apprenticeships, traineeships and long-term funded work placement routes.

 

Apprenticeships

  • A new monetary incentive has been introduced for employers who recruit apprentices.
  • The incentive will be available to any sized employer who recruits an apprentice between August 2020 and January 2021.
  • A 16-18 year old apprentice historically attracted an incentive payment of £1000. This has now been increased to £3000 per apprentice.
  • A brand new incentive has been introduced for employers who recruit an apprentice who is 25 years old or above. Employers can now claim £1500 per apprentice recruited who fall into this age category.

 

Traineeships

  • £111 million has been ear marked to support traineeship programs, triple the amount invested in previous years. A new incentive payment of £1000 per trainee has been introduced by the government for any employer who provides work experience placements for candidates on a Traineeship program.

 

Kickstart Scheme

  • £2 billion fund made available by central government.
  • Aimed at 16-24 year old candidates on universal credit and are deemed to be at risk of long-term unemployment.
  • 6 month work placement (25 hours per week).
  • 100% funding for each opportunity covered by central government, plus the associated employer National Insurance contributions and employer minimum automatic enrollment contribution.

 

 

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