PM unveils £6m scheme to boost manufacturing sector

Professionals in manufacturing sales jobs should be aware the prime minister announced today (February 7th) that £6 million will be made available to industry businesses as part of an initiative to boost skills.

Businesses in such sectors as aerospace and renewable technologies will be able to bid for a share of the Higher Apprenticeship Fund, which has been designed to enable firms to provide skills required by young apprentices.

According to the National Audit Office, for every £1 invested in apprenticeships, a return of £18 is made to the wider economy, suggesting the scheme could really improve fiscal conditions.

Alongside this funding is the Employment Ownership pilot, which allows employers in England to apply for a share of up to £250 million of public investment to go towards greater control of how skills training is delivered.

David Cameron said: “I’m delighted to underline our commitment to strengthen our economy by helping employers take on apprenticeships and ensure that the UK workforce has the skills that businesses need.”

He added that a gold standard option for young people should lead to technical skills being as highly-regarded as academic achievements.

Posted by Steve Williams

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