CMI welcomes Chancellor's support for the Apprenticeship Levy
Following the Chancellor’s Spring Statement, Petra Wilton, Director of Strategy for the Chartered Management Institute has responded.
The Chancellor’s £80m helping hand for small businesses access the Apprenticeship Levy is brilliant news enabling more people to benefit from apprenticeships, and will be music to the ears of employers and learners. According to our research, 81% of bosses want access to the digital apprenticeships service to be extended to small businesses to drive up apprenticeship numbers. The majority also back Levy funding to be spent on apprenticeships for all ages.
Many large employers are now identifying key higher level skills gaps in management, digital and engineering, and as a result the fastest growing new degree apprenticeships are across these areas. Small businesses, the engines of the UK economy, now have the same opportunity to develop their staff.
While there is positive news for the economy, productivity remains stubbornly flat. Clearly, the government can no longer afford to ignore the OECD and the Bank of England’s advice that quality management and leadership is the number-one driver of productivity. And while the Industrial Strategy is a step in the right direction, we await more detail from the Chancellor on how it will work to close the management skills gap.