Tag: Future Skills Fund

FBUK Comments on King’s Speech

Posted on by Megan Josland

FBUK Comments on King’s Speech

Family Business UK is delighted to see a Bill to reform the skill training announced as part of the King’s Speech, which marks the official opening of Parliament.

The Skills England Bill will see a partnership between government and business, education, training providers and trades unions, creating a new body to oversee skills training.

Reform of skills training is a central recommendation of the Family Business UK Manifesto, Taking the Long-Term View where we call for:

  • Replacing the Apprenticeship Levy with a Future Skills Fund
  • Allowing greater flexibility in how businesses use the fund for skills
  • Removing barriers on spending between home nations
  • Encourage up-skilling and career-long learning

Commenting on the King’s Speech, FBUK CEO Neil Davy said: “We are delighted that the Government has committed to reforming the Apprenticeship Levy through the new Skills England Bill.

“The key to unlocking the true potential of family businesses, and the economy as a whole, is to create a culture of continuous improvement and investment in the skills of young people. The current system just doesn’t work and, reform was one of our key asks of government.

“A new system must give family businesses greater flexibility on how they allocate funding to support apprentices, life-long learners and help people looking to re-enter the workforce. Family businesses employ almost 14 million across the UK, so we are well-placed to support and implement these changes.

“We look forward to working with the Government on the new Growth and Skills Levy, ensuring the necessary reforms can help drive growth across the family business sector and the whole economy.”

The King’s Speech, delivered as part of the State opening of Parliament, contained 40 Bills, 14 of which were wrapped up in a section on economic stability and growth. This included Bills on: Budget Responsibility, National Wealth Fund, Pension Schemes, Planning and Infrastructure, Employment Rights and Audit Reform and Corporate Governance.

A detailed analysis of the King’s Speech from our partners SECNewgate can be found here.

FBUK Responds to “Huge fall in Apprenticeships”

Posted on by Alan Fitzwater

In response to an article in The Times titled “Huge fall in apprenticeships under broken levy” regarding the apprenticeship levy, FBUK’s Chief advocacy officer, Fiona Graham, said;

“The latest research from the Chartered Institute of Personnel and Development (CIPD) reinforces our long-standing argument that the apprenticeship system is simply not working”.

“We hear from family businesses on a daily basis how the system is too complicated, inflexible and burdensome”.

“Family businesses want to train young people and upskill their workforces, but administrative complexities discourage businesses from taking on apprentices. Money, a staggering £4.4billion, that could be used for training is instead returned to the Exchequer without being touched”.

“Quite simply, the current system is holding back the immense potential of family businesses by failing to equip future workforces with the skills, training and support they need, where they need it”.

“To deliver a skills regime that is fit for the future, we need an overhaul of the employee training landscape by refocusing the Apprenticeship Levy and making the skills landscape work for businesses and individuals”.

Future Skills Fund

“The current skills and apprenticeship system needs to be revamped and replaced with a more holistic Future Skills Fund. This fund would provide greater flexibility on how money can be used to encompass apprenticeship support, training and development for existing employees.

“This would allow businesses to use the allocated funding on a wider range of training options and opportunities. Transitioning to a Future Skills Fund would also give businesses greater flexibility and opportunity to use funding for the skills and technical expertise they need. It would better equip local schools and colleges to provide training and skills relevant to the needs of local employers and communities”.

The Future Skills Fund would provide a better deal for employers and employees a number of ways:

➤ Providing greater flexibility in the use of the Fund to support life-long learners and apprentices to study, for example through support of transport or living costs.

➤ Removing barriers between the nations of the UK to ensure money can be spent where it is most needed, not necessarily where it is paid.

➤ Giving businesses a greater say in the development of the local skills landscape and supporting career-long skills development and learning, including when re-entering the workforce after a period of absence.”

END.

Family Business UK is a growing body of Family Businesses working together to create a more prosperous and sustainable future for generations to come.
Find out more FBUK today : www.familybusinessuk.org

Read the 2024 Family Business Manifesto in full here