Oral Answers to Questions

Stephen McPartland Excerpts

Thursday 6th March 2014 Commons Chamber

[Matthew Hancock]

Of course, we have strengthened the regulation of the banking system enormously in the past three years. As yesterday’s figures from the Financial Conduct Authority show, 62% of businesses that might have been mis-sold interest rate swaps have now been told by the banks whether they are owed compensation under the scheme regulated by the FCA, and all businesses owed redress will have been made offers by the end of June.

[Stephen McPartland (Stevenage) (Con)]

18. What support his Department is providing to apprenticeships.

[The Minister for Skills and Enterprise (Matthew Hancock)]

We are well on our way to delivering the agenda of apprenticeship reform. This is national apprenticeship week and, as we know, across the country participation has increased by about 80% since the election. In Stevenage, participation in apprenticeships since the election has more than doubled.

[Stephen McPartland]

Apprenticeships are a great opportunity to reduce the gap between education and employment, and in Stevenage last year more than 800 young people took up the opportunity of an apprenticeship. Yesterday, I launched a jobs fair so that we can push towards 1,000 young people taking up the apprenticeship opportunity this year. Will the Minister join me in congratulating all the local partners—the jobcentres, employers, schools and colleges—on the work they are doing?

[Matthew Hancock]

I add to those in that list, all of which I congratulate, my hon. Friend, who has obviously played an important role in bringing people together. Apprenticeships, especially high-quality ones, can happen only as a partnership between training providers and employers, and of course the Government, with some of their funding, to give young people the opportunities they need.