It is good news for apprenticeships as the Government changes announced in the Spring Budget came into play this week. These changes aim to help support business growth and create opportunities for young people.

Major Apprenticeship Levy reforms from 1st April include:

  • £60 million new investment to enable up to 20,000 more apprenticeships
  • Fully funding training costs for new apprentices aged 16 to 21 hired by SMEs
  • Increased amount of levy funds that large employers can transfer to support other businesses
  • Removal of co-investment costs from non-levy paying employers from April 2024 for apprentices under the age of 22
  • An increase in the levy transfer cap from 25% to 50%
  • The DfE budget for apprenticeships increasing to over £2.7 billion from next year
  • Apprentice minimum wage boosted to £6.40 an hour, an increase of 21.2%

What does this mean?
Employers will get more support hiring apprentices and there will be more opportunities for prospective apprentices to access.

How can LMP Education help?
As an award-winning training provider, we’ve supported employers to recruit apprentices with over 5000 apprenticeships complete through LMP Education. Apprenticeships are a great way to invest in and develop your workforce and grow your organisation.

LMP Education offers a range of training programmes including Teaching & Early Years, Finance, Business, HR & Management, all of which are fully funded by the apprenticeship levy.

Free Apprentice Recruitment Service
You can access and recruit new talent through apprenticeships quickly and easily. This free service from LMP Education supports the recruitment process to ensure that the perfect applicant is matched to your organisation.

To find out more about apprenticeships or hiring an apprentice through LMP Education please schedule a consultation call with us.