Rishi Sunak praises Newbury MP following apprenticeships announcement
The Chancellor of the Exchequer, Rishi Sunak, has lauded Newbury MP Laura Farris for her work with Newbury College, following the announcement of a scheme that will allow large companies to invest in apprenticeships.
On Tuesday last week (June 22), Mrs Farris quizzed the Chancellor in Parliament on what steps the UK Government could take to support employers in taking on apprentices in West Berkshire.
In response, Mr Sunak revealed that official changes are to be made in August, allowing large firms to transfer unspent funds from the national Apprenticeship Levy to small and medium-sized enterprises (SMEs).
He said: "I am proud that Laura Farris is working with Newbury College in her constituency.
"She's right that SMEs are the backbone of West Berkshire’s economy and I’m pleased to tell her that from August of this year, employers who pay the levy but have unspent levy funds will be able to use a new bulk transfer service to send that money to SMEs combined with a new SME match function so they can find the SMEs that are most appropriate and suitable to their supply chain in their local area.
"So I hope that is helpful to her and to Newbury College and the plan is for the Department of Education to have that up-and-running in August."
Mrs Farris said: "Delivering opportunities for young people to enter the workforce is a key priority for me.
"We can't achieve this without equipping all employers – big and small – with the tools for them to do so.
"The Government has taken direct action to ensure that opportunities for young people are front and centre of our post-pandemic recovery.
"We are feeling the benefit of this here in West Berkshire where unemployment is falling, in no small part thanks to Treasury-backed apprenticeship schemes.
"I have heard from a range of local employers and training providers such as Newbury College, and it is clear the Government's schemes are making a big difference.
"But given the importance of SMEs to West Berkshire's local economy, I strongly welcome the Chancellor's announcement."
