On Monday 18th March, in his first economic speech since the Spring Budget, the Prime Minister set out a package of changes to apprenticeships, reduce regulation for SMEs and encourage more private investment in female leaders at the Business Connect conference.
The Government will fully fund apprenticeships in small businesses from 1st April by paying the full cost of training for anyone up to the age of 21 and it will invest an additional £60 million of new government funding for next year.
From the start of April, the government will also increase the amount of funding that employers who are paying the apprenticeship levy can pass onto other businesses. Under the new measures, large employers who pay the apprenticeship levy will be able to transfer up to 50% of their funds to support other businesses, including smaller firms, to take on apprentices.