Need more information?
Category:
Published: 8th March 2021

Chancellor Rishi Sunak Announces £3,000 incentive for hiring apprentices and new Flexi-job apprenticeships

Chancellor Rishi Sunak delivers new investments for apprenticeships in the 2021 spring budget

With over 700,000 people losing their jobs as a result of the coronavirus crisis Rishi Sunak set out to provide hope and “level up” Britain’s economy. This was good news for companies employing apprentices.

£3,000 hire incentive

In August as part of his ‘Plan for Jobs’ the Chancellor announced  financial incentives which currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over are paid £1,500. This incentive was set to end this month, but has now been extended until 30 September 2021. On top of the extension any employers who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire, regardless of the apprentice’s age.

This is on top of the £1,000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.

According do the Chancellor:

The apprenticeship scheme would help people of all ages and backgrounds reskill for “levelling up” Britains economy

Flexi-job Scheme

Alongside the increased incentive a new flexi-job apprenticeship scheme was announced aimed at enabling people to work across multiple projects with different employers. The government will introduce a £7 million fund from July 2021 to “help employers in England set up and expand portable apprenticeships”.

Trailed last Friday, the Treasury called this scheme “flexi-job” apprenticeships. The first of these are expected to start in January 2022.

Future Ready

Cogent Skills is sector based, working with companies from across the Science and Technology Industries embracing Life Sciences, Industrial Sciences and Nuclear.
© Cogent Skills 2021 All Rights Reserved
Design + Build LoyaltyMATTERS
chevron-downcross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram