5th March 2021
Chancellor Rishi Sunak delivered the spring budget on the 3rd March 2021 which included valuable additions to the Plan for Jobs introduced in July last year.
From April 1st 2021, employers recruiting new apprentices will be eligible for an increased incentive payment of £3000, regardless of the apprentice’s age. This is on top of the £1,000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total. This new scheme is set to run until September 30th 2021.
“Apprenticeships and training of the very highest calibre play a vital role, not just for businesses, but also for the economy to help people and businesses thrive, and I would encourage our region’s businesses to consider how they could benefit. This latest announcement from the Government will enable even more businesses to develop the next generation of talent.”
– Sophie Park, Director of Workforce Skills
The £1000 employer incentive for providing work experience for trainees has also been extended into the 2021/2022 academic year. Employers can continue to claim a £1000 incentive for offering at least 70 hours of work experience to a 16-24 year who is on a Traineeship programme. We are already working with businesses to develop meaningful Traineeship programme. A traineeship is a skills development programme that includes a work placement. The full programme can last from 6 weeks up to 1 year, though most traineeships last for less than 6 months.
If you would like to find out more about how your business could benefit from apprenticeships and the new increased incentive payments, contact: email@example.com