- Foxmain Associates
Cash boost for apprenticeships launched
From Tuesday 1 June, employers of all sizes in England can now apply for extra funding to help them take on apprentices.
The boost to the apprenticeship incentive scheme was confirmed by the Chancellor in the Budget in March.
Businesses can apply to claim £3,000 for each new apprentice hired from 1 April until 30 September 2021.
The cash incentive is designed to help more employers invest in the skilled workforce they need for the future, as part of the Government's "Plan for Jobs".
Employers can choose how to spend the cash, for example, covering uniform or travel costs for the apprentice.
Employers can also apply for a £1,000 cash boost to help them deliver traineeships for up to 10 learners per region, in each of the nine regions of England.
Chancellor Rishi Sunak said:
"Young people have been hit especially hard by the crisis - which is why our Plan for Jobs launched last year is focused on helping them get the skills they need to get the jobs they want"
"By boosting the cash incentives for our apprenticeship scheme we're improving opportunities for young people to stay in and find work - this could not be more important in our economy's recovery."
Previously, businesses in England were given £2,000 for every new apprentice they took on under the age of 25 and £1,500 for those over 25. The new system will pay companies £3,000 for every apprentice, regardless of age.
Further details on the incentive payments and how to apply can be found here Incentive payments for hiring a new apprentice - GOV.UK (www.gov.uk)
For further details on the traineeship employer incentive, please follow this link - Traineeship employer incentive registration form - GOV.UK (www.gov.uk)