Media comment: Over-25 apprenticeship funding changes risk a future skills crisis

In response to reports that the UK government is considering increasing the cost of apprenticeship training for workers aged 25 and over, Andrew Harding, FCMA, CGMA, Chief Executive at The Chartered Institute of Management Accountants, said:

"The government's plan to overhaul apprenticeship funding for over-25s is a skills crisis in the making and should be reconsidered.

"Skills England projects that around 71% of jobs in 2035 will be filled by people who are already in the workforce today. If we are serious about boosting productivity, economic growth and business resilience, we must continue investing in the skills of existing workers as well as future generations.

"Youth employment and workforce development are not competing priorities. We need both. Neglecting the skills needs of today's workforce may deliver short-term savings, but it risks creating a much bigger skills gap that businesses and the economy will pay for in the years ahead."