How is the apprenticeship programme funded?
Apprenticeships are free for the learner, as they are exclusively funded by employers. Many employers in the UK choose to use the apprenticeship levy (specific government funding) to pay for apprenticeships.
What is the Apprenticeship Levy?
The Apprenticeship Levy is a UK government initiative, designed to encourage employers to invest in apprenticeship programmes and bolster workforce development. It requires employers with an annual pay bill of over £3 million to pay 0.5% of that pay bill into a digital account, which can then be used to fund apprenticeship upskilling. Employers who do not meet the levy threshold can still benefit, as the government contributes funds to cover a portion of apprenticeship training costs. This initiative helps bridge skill gaps and supports the growth of the economy by ensuring a skilled workforce.