In a significant move to enhance apprenticeship opportunities, the Chancellor has unveiled a £50 million pilot program aimed at stimulating training in critical growth sectors, including engineering. The two-year initiative, known as the ‘Apprenticeship Growth Sector Pilot’, seeks to address shortages and foster skill development.

Jeremy Hunt, in his autumn statement, emphasized the government’s commitment to increasing the number of apprenticeships. Following consultations with organizations like Make UK, he announced additional funding over the next two years. The goal is to explore innovative ways to bolster apprenticeships in engineering and other high-demand areas.

Specific policy details are still to be released, and the speech did not mention the apprenticeship levy, although discussions about potential restrictions are allegedly ongoing.

The Treasury also announced that the minimum hourly wage for apprentices will be increased by 21% from April 2024, raising the hourly wage from £5.28 to £6.40.