Asked by: Jo White (Labour - Bassetlaw)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will raise apprenticeship levy funding.
Answered by Darren Jones - Chief Secretary to the Treasury
The Apprenticeship Levy (AL) is currently paid by large employers, charged at a rate of 0.5% on an employer’s annual pay bill of over £3 million. The annual apprenticeship budget is then set by HMT, which funds training and assessment costs for apprenticeships.
This government is committed to transform the Apprenticeship Levy into a Growth and Skills Levy, which will allow employers to invest in a wider range of training.
The government will set out more details on the Growth and Skills Levy in due course.