9 hours ago
- Business
- South Wales Argus
Welsh Government urged to invest in apprenticeships
The call comes in response to chancellor Rachel Reeves' announcement of £1.2 billion in annual funding for training and apprenticeships for over a million young people in England.
The National Training Federation for Wales (NTFW) wants a similar commitment from the Welsh Government, which is set to receive £23 billion from the UK Government.
Data from Medr, the regulator and funder of tertiary education and research in Wales, indicates that 1,880 fewer learners started apprenticeships in Wales between last August and January.
The NTFW has consistently raised concerns about the potential impact of not replacing European funding for apprenticeships post-Brexit.
Some sectors have been hit harder than others, with construction seeing a 26 per cent decline and health and social care experiencing a 10.5 per cent reduction in apprenticeship starts.
Despite funding cuts, Wales has one of the UK's most successful apprenticeship programmes, with a completion rate of 74 per cent, outperforming England (61 per cent) and Northern Ireland (62 per cent).
According to the Centre for Economics and Business Research, doubling investment in apprenticeships over the next Senedd term could generate an additional £3.4 billion in lifetime earnings for people in Wales over the next 30 years.
The NTFW's call for more investment follows a meeting with Jack Sargent, the Wales minister for culture, skills, and social partnership.
Lisa Mytton, NTFW's strategic director, said: "The Welsh Government could achieve crucial economic, health, and education priorities by investing more in apprenticeships and replacing lost European funding.
'Greater investment will create pathways for people of all backgrounds, whether starting their careers or reskilling for new opportunities, to thrive in industries essential to Wales' long-term prosperity."
