Traineeships Fund: Government to give £111 million to businesses
The government have made a recent announcement. UK businesses are to receive £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.
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