Cash bonus scheme for hiring apprentices is set to double to £3,000

Apprenticeship financial incentives were first introduced by Rishi Sunak in August and currently offer firms £2,000 to take on apprentices aged 16 to 24, while those that employ new apprentices aged 25 and over are paid £1,500.

The chancellor announced yesterday that the bonuses, set to end this month, will be extended for a further six months to September.

And any employers who hire a new apprentice between 1 April 2021 and 30 September 2021 will receive £3,000 per new hire, regardless of the apprentice’s age.

This is on top of the £1,000 payment already provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.

This story was originally posted by Fe Week – (Source)

 

 

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