Funding blow for degree apprenticeships

The government’s new plans to restrict level 7 apprenticeships will widen the skills gap, hinder the economy, and have a significant financial impact on accountancy firms needing to develop future managers, business leaders or fill specialist roles.

The warning comes from the University Vocational Awards Council (UVAC) which has produced a new national report in partnership with Sheffield Hallam University to explore the critical purpose of training apprentices of all ages to deliver jobs of the future.

UVAC’s CEO, Dr Mandy Crawford-Lee, said: “The government’s policy aims to reduce levy funding of level 7 apprenticeships is a major blow to accountancy employers, the wider economy and the skills development of both senior level staff and those in specialist roles such as technology.

“It will largely affect those businesses with apprentices aged over 25 that rely on the current financial support to meet the cost of upskilling employees to be effective managers, business leaders or occupy more technical roles via level 7 and master’s degree apprenticeships.

Check out the full report at: https://uvac.ac.uk/apprenticeships-a-system-built-for-adults-uvac-publishes-new-concept-paper/