Last week the chancellor, George Osborne, announced an apprenticeship levy of 0.5% on company payrolls which will be imposed from April 2017 to support the skills training of workers and improving the skills levels of the UK workforce.
This has been seen by many businesses as a payroll tax, to others it is a fair way to fund the commercial future of this country to fund the significant growth in Apprenticeships funding up to three million apprenticeships by 2020.
From April 2017 0.5% of an employer’s wage bill will be collected from 2% of the largest employers with a payroll greater than £3m per annum.
Over the years it has been highlighted that there has been significant under investment in skills which is set to affect the UKs productivity and the economy. UK productivity lags behind other major OECD countries, holding back economic growth, wages and living standards.
Government support for apprenticeships has been welcomed by Tresham who offer a range of apprenticeships to suit the needs of local employers and train young people and adults with the skills businesses have identified they need from new staff.
David Higham, Vice Principal – Business Development and Customer Experience at Tresham responded to the spending review announcements saying:
“Improving the skills of the workforce is essential to increasing productivity levels and it has been proven that employers’ skills investment yields a significant amount of additional value added to them.
It is important for the majority of employers in Northamptonshire to remember that even if their business does not need to pay the Levy they can, and should, access the government’s support for apprenticeships.”
If you want support to look at whether apprenticeships are right for your business, a no obligation apprenticeship recruitment service is available via Tresham. Call 01536 419570 or email email@example.com for more information.Back to news