£150m training and skills fund

This week saw the announcement of a new £150m pot of money for UK businesses to fund training schemes. It was announced that the second round of funding has now been made available and is open to bids through the Employment Ownership Pilot. This pilot scheme, which is run jointly by the Department for Business, Innovation and Skills and the Department for Education, has been assigned a total government investment of £250m.

Under the scheme businesses will be able to use the fund to train employees and develop the skills of their existing workforce. Projects such as skills training for local suppliers and apprenticeships, as well as specifically targeted at female workers were made possible by this funding.

The first round of funding, which took place earlier this year, saw firms such as Whitbread and Nissan benefit from a share of £70m.

The skills minister also recently announced a new partnership with Channel 4 and the BBC, amongst others, which will aim to develop work placements, internships, training and apprenticeships within the production and technology sectors.

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