Government to give £111 million to businesses to fund traineeships

07 Jul 2020

The government plans to give UK businesses £111 million in order to fund new traineeships and get young people in England into work.

30,000 new traineeships will be created by the government to help get more young people into work. As part of the scheme, businesses in England will be given £1,000 for each work experience place they offer.

The government intends for the scheme to be introduced in England in September. Wales, Scotland and Northern Ireland are set to receive £21 million under similar schemes.

In a statement, a spokesperson for the Treasury said: 'Young people's employment prospects are expected to be disproportionately affected by the economic fallout of the coronavirus.

'Expanding traineeships will be part of a wider package to support young people and to ensure they have the skills and training to go on to high quality, secure and fulfilling employment.'

Additional details on the scheme are set to be announced by Chancellor Rishi Sunak during the government's Financial Statement on 8 July.

Home | Contact us | Site map | Accessibility | Disclaimer | Help |

© 2024 Penn Management Services. All rights reserved. | Company Number: 03655701

Penn Management Services, 1 & 2 Heritage Park, Cannock, Staffordshire WS11 7LT
We use cookies on this website, you can find more information about cookies here.

In accordance with the disclosure requirements of the Services Regulations 2009, our professional indemnity insurer is Allied World Assurance Company (Europe) Limited, of 20 Fenchurch Street, 18th and 19th Floors, London EC3M 3BY. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of Amercia or Canada.

We are registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C008875364.