Government and business boost UK workforce with £165 million co-investment in skills.
11 Sep 2012
Siemens, Sembcorp and Nissan are some of the 34 businesses that have successfully bid to design the vocational training programmes they need to grow and create tens of thousands of opportunities for young people
Vince Cable made the announcement as part of the Government’s Industrial Strategy in his speech at Imperial College.
They are the first round of winners taking part in the Employer Ownership Pilot (EOP). They will receive a share of £67 million and will more than match the funding by investing a combined total of £98 million.
Included within the round one projects are radical proposals from Siemens, Arla Foods UK and BAE Systems to train employees not just within their own company but also within their supply chains.
As well as supporting businesses and giving them the confidence to invest and grow, the Employer Ownership Pilot will create life changing opportunities for thousands of young people. The first round of co-investment is expected to generate:
- 11,000 apprenticeships, including 4400 for 16-18 year olds.
- 27,000 full time equivalent non-apprenticeship vocational training opportunities.
- 49,000 other learning or training opportunities, including work experience and work placements.
Skills Minister Matthew Hancock said:
“Britain must have the skills Britain’s employers need.
“By giving businesses the chance to shape and set their own training agenda, we’re giving them the power to enrich their workforce with the skills needed for their future success.”
The Employer Ownership Pilot will give businesses access to up to a total of £250 million over two years, with more successful bidders being announced in October, and a further bidding round to be launched in the autumn.