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This paper explores:
how much employers, individuals and government invest in skills
the costs and benefits of different types of qualification
the economic return to individuals associated with qualifications and how this varies with age
The authors have updated this paper to improve the robustness of certain figures. Specifically, they have updated the monetary value of gaining a bachelor’s degree, and the returns per pound invested. They have also provided more clarity on the calculations used in Section 3.3. These updates have not significantly changed the overall conclusions. For more information, please contact firstname.lastname@example.org.