Apprenticeship Levy for large companies – part of the autumn statement and spending review.
Firms with a wage bill over £3million will be expected to commit 0.5% of that to employing apprentices.
This sounds great with all good intentions for job creation opportunities to give young people a foot on the employment ladder and a qualification.
In real terms on a salary budget of £3million this equates to a £15,000 budget for apprentices which even at the lowest you can pay of the Apprenticeship National Minimum Wage will result in the employment of just 2 apprentices.
So this shouldn’t have a massive impact or be especially onerous on any one employer yet it is estimated it will result in 3 million more apprenticeships a year… let’s hope the colleges and training companies are geared up to cope wth this!
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