(3 years, 11 months ago)
Commons ChamberWe certainly hope that right across the country, and not just in Bristol, everyone sees colleges as a vital lever in delivering economic growth through delivering skills.
Level 4 apprentices go on to earn more than the average undergraduate. According to the Institute for Fiscal Studies, 30% of undergraduate degrees lead to negative returns overall. Does my right hon. Friend agree that rebalancing the system towards our neglected technical education sector is the right thing for young people and the right thing for the country?
I absolutely agree. It is a real Achilles heel of this country. In this country, 10% of the 18 to 65 workforce has higher technical qualifications, as compared with 20% in Germany and 34% in Canada.[Official Report, 27 January 2021, Vol. 688, c. 4MC.] We have to address that skills deficit. This is where there is so much demand for the type of skills that people and businesses want. Of course, the outcomes for people who get those skills and that training are incredibly positive, not least that they usually outperform graduates in earnings.