Marking National Apprenticeship Week the Prime Minister David Cameron announced a new round of Government funding to support thousands of apprenticeships up to degree equivalent.
The government is making available to firms in sectors including aerospace, energy and renewable technologies, a share of the £6m Higher Apprenticeship Fund, which will support the development of thousands of new Higher Apprenticeships.
Small firms will be offered an incentive of £1,500 to hire their first young apprentices. This is expected to support up to 40,000 new apprenticeships over the next year.
"By making apprenticeships a gold standard option for ambitious young people, we are sending a message that technical excellence is as highly valued as academic prowess," said Prime Minister David Cameron.
According to official figures, as many as 457,200 people started an apprenticeship in the full 2010/11 academic year. This represents a 63.5% increase on 2009/10 figures.
"Under this Government apprenticeship starts are increasing at a record rate, with improvements across the age range, in all sectors, throughout the country," said the Prime Minister.
Bidding has also opened for the new Employer Ownership pilot, inviting employers in England to apply to access up to £250m of public investment and secure more control over how skills training is designed and delivered.
