11-10-2007
Skills development benefits from Budget cash bonanza
News from Simply Business - independent providers of business insurance, business finance, landlords insurance, buy-to-let mortgages, commercial mortgages & information for small businesses.
According to Alastair Darling’s newly released pre-budget report, skills development is to get a massive cash boost in the 2008 Budget.
The proportion of funding for adult skills that are in demand from employers will increase, particularly for the Train-to-Gain service, which will receive a funding top-up of over £400 million, increasing the total from £460 million in 207-2008 to £900 million in 2010 – 2011.
The report stated: ‘With globalisation brings new opportunities both for employers and individuals, it also brings the challenge of succeeding against highly skilled, lower wage competitors.’
With this in mind the government hopes to deliver a programme of reform to improve the quality of our skilled workers, enhance responsiveness to individual and employer demand and to focus the skills system on training that has clear economic value.
Key to this programme of reform will be the use of online business resource, Business Link. From 2008 the HMRC will take over responsibility for managing the website and will aim to fully integrate skills brokerage to ensure a single brokerage service by April 2009.
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