Labour risks making Britain’s graduate employment crisis worse by cutting funding for high-level apprenticeships, a leading provider has claimed.
State funding for Level 7 apprenticeships – equivalent to a master’s degree – will be axed for those aged 22 and over from January 1.Â
Graduates who have taken placement years, embarked on four-year courses or taken gap years will no longer be eligible for the backing.
Cutting back: State funding for Level 7 apprenticeships – equivalent to a master’s degree – will be axed for those aged 22 and over from January 1
Gareth John, of leading accountancy training provider First Intuition, said: ‘I think we’re going to lose so many opportunities for graduates.’ Without the subsidy, industries may struggle to hire staff due to training costs. Many graduates cannot afford to self-fund their training, either.
A Government spokesman said: ‘Apprenticeship starts fell by almost 40 per cent over the last decade for those under 25. We want to enable levy funding to be rebalanced towards young people, which is why we will only fund Level 7 apprenticeships for those under 22.’
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