The Skills Stability Plan outlines our work for this financial year and sees us protect apprenticeships, the Grants Scheme and direct employer funding despite the fact that we will only collect £74m of levy this year – just over a third of normal levels.
We have made significant reductions in our cost base and are utilising our reserves to make sure we provide the highest level of support right now, directly to employers. We will continue to identify and action additional cost reduction.
Direct funding for employers is prioritised through the Skills and Training Funds, with £8m earmarked for small and micro businesses, £3.5m for medium-sized businesses, with a £3m Leadership and Management Fund for large firms. This will help employers train to adapt to the new working environment and update the skills of their workforce.
Protecting apprenticeships is critically important because they are the future of the industry.
We have put together a package of measures to keep as many apprentices in the industry as possible, from grant support, to remote learning opportunities, through to helping them find new employment if they are made redundant.
CITB will work with other industry partners to support workers who have lost their jobs or seen their apprenticeship disrupted, matching them with a new employer, including through exploring a talent retention scheme. It’s essential we do everything we can to support talented people at the start of their careers and support the businesses who employ them.