The changes, announced at the Conservative Party conference on 1st October 2018 are aimed at providing greater flexibility to allow businesses to take full advantage of the benefits of employing apprentices, and to help as many people as possible find the right training to equip them for the new economy.
An extra £90 million of government funding will see the current levy transfer facility rise from 10 per cent to 25 per cent by April 2019.
A further £5 million was announced for the Institute for Apprenticeships to introduce new standards and updating existing ones so that more courses can be offered – meaning more choice for those considering their training options.
The government will discontinue the old frameworks so that all new apprenticeships will be on the same higher-quality standards by the start of the 2020/21 academic year.
There will also be greater investment in apprenticeships in science, technology, engineering, and mathematics (STEM) subjects.