From 1 August, this 12% bonus will be added to the 10% rate introduced last year as part of the redesigned £90m Grants Scheme. The extra funding will help to meet the changing needs of industry, reward levy payers and ensure the industry has the right skills in place to support economic recovery both locally and nationally.
The temporary rate – which will apply to all grants, including the apprenticeship package, standard achievement/attendance, plant and other specialist training support – is designed to boost skills and training activity and help businesses prepare for forecast growth in the sector from 2013.
-- Advertisement --
To put the value into context, the additional 12% supplementary payment will increase the available apprentice package from £9,000 to almost £11,000.
The decision to increase supplementary grant payments temporarily came at a meeting of the organisation's employer-led Board, which last month agreed to invest an additional £25m over the next three years in specific skills and training activities to support the sector following a better than expected year end financial results in 2010.
Mark Farrar, Chief Executive of CITB-ConstructionSkills, said: "It is essential that employers maintain investment in the current and future workforce, and by giving this additional boost to supplementary grants, we can add more value to levy payers, helping firms receive even more value on their investment as they prepare for economic recovery.
"The last two years have been extremely challenging for industry and our latest research shows that more than a quarter of construction businesses in the UK reduced their training activity in 2010, with 18% planning to scale back training further this year.
"However, it's important that they train now to ensure that their workers have the skills to help boost productivity and pitch for emerging new contracts, such as through the Government's Green Deal."
(CD/GK)
