Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Innovation and Skills, what discussions he has had with the Chancellor of the Exchequer on the implementation of the Prime Minister's commitment of April 2015 to utilise the proceeds of the £227 million fine on Deutsche Bank to create a new three-year fund to create 50,000 apprenticeships.

This Government will be spending twice as much in cash terms on apprenticeships by 2020 compared to 2010. Spending on apprenticeships in England will be £2.5bn in 2019-20. The Department for Business Innovation and Skills spending review settlement for apprenticeships reflects the government’s commitment regarding the proceeds of the Libor fine the FCA announced in April 2015.

Further announcements that support the Government’s commitment to delivering employment opportunities for young people will be announced in due course.

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