Question to the Department for Education:
To ask the Secretary of State for Education, if he will review the 10 per cent co-investment fee for non-apprenticeship levy paying SMEs.
Co-investment is an important part of our apprenticeship reforms and ensures that employers take ownership of their apprenticeship training by making a financial contribution towards it. We know that small businesses place great value on apprenticeships and are prepared to invest in them.
For the smallest employers with fewer than 50 employees, the government already contributes 100 per cent of the cost of training for apprentices who are: 16 to 18 years old, 19 to 24 year old care leavers or 19 to 24 year olds with an education, health and care plan.
In addition, non-levy paying employers receiving transfers from larger levy paying employers can use these transferred funds to cover 100 per cent of apprenticeship costs.