CITB inject £30m into industry to incentivise training
CITB’s Training Committee has agreed to provide a training grant of £15m to reward employers, and will make an extra £15m available to incentivise employers to train within the 2013/14 Grants Scheme.
All grant claiming employers will be eligible for the additional funding. The additional grant will be based on a percentage of all grants claimed by employers (excluding the supplementary payment).
The percentage, which will be determined after the Grants Scheme closes on 31 October, is likely to be 12 -15 % of grants claimed with a minimum payment of £250 for each year, for all grant claimers. Employers will not have to claim the exceptional training grant - it will be paid automatically to eligible employers in December 2013 and 2014.
Judy Lowe, Deputy Chairman of CITB and Chairman of the Training Committee said: “The aim of this cash injection is to incentivise training and to reward those who have continued to train, despite the economic downturn.
“Since the recession, we have seen a substantial drop in training but we hope that this money will kick-start the industry into upskilling and investing in their employees. Ultimately, CITB’s aim is to invest the industry’s levy back into industry skills and training to make businesses competitive, now and in the future. We believe this announcement will provide a welcome catalyst.”
You can get more information on how to take advantage of the CITB Grants Scheme by visiting the Levy & Grant section of their website.