Budget boost for apprenticeships

The chancellor announced it will provide £170 million will be made available for businesses to meet business demand for the apprenticeship grant for employers scheme.

AGE will focus on small businesses, with fewer than 50 employees, and will allow employers who have not had an aprentice in the last year to receive £1,500 grant for each of up to 10 apprentices between 16-24.

The £170 million announced, which is made up of £85 million for 2014-15 and £85 million for 2015-16, will fund more than 100,000 new grants. The funding is available from January 2015.

The additional £20 million will be spent over two years to support degree-level and postgraduate apprenticeships.