PRESS RELEASE: Budget confirms 10% top up to apprenticeship contributions
Tucked away in the Budget changes was the announcement that, from April 2017, employers will receive a 10% top-up to their monthly levy contributions in England to spend on apprenticeship training through their digital account.
So, a company with a payroll of £5m for example would pay a levy of £10k (0.5% on their pay bill above £3m) and have £11k to spend – which includes a £1,000 top up of their digital voucher. It is understood that this additional money will come from the overall Apprenticeships Levy pot. It will be available to those who are training apprentices and using their vouchers, so it’s the mechanism by which employers can get added financial value from this new system. Many more details remain unclear and it is unlikely that a complete picture will be known until later in the year. HAE continues to work with other federations and CITB to press the government to discuss details and consult on the proposals. HAE has also written to the Skills & Construction Minister, Nick Boles MP.