Member Article

Apprenticeships will contribute £3.7 billion to the Yorkshire & Humber economy in 2014

Apprenticeships will contribute around £3.7 billion to the economy of Yorkshire & Humber in 2014 according to new research from the Centre for Economics and Business Research.

This includes the economy benefit that comes from higher wages, business profits and taxes, an estimated reduction in unemployment benefit payments, and benefits to organisations while training apprentices.

The ratio of benefits to costs of apprenticeships is £21 for the national economy for each £1 of public money spent.

Yorkshire and Humber had 103,820 apprentices participating in 2012/13, 11% of the UK total.

The number of people starting an apprenticeship each year has grown in recent years from around 100,000 in 1950 to more than 450,000 people in 2013-14.

The government is reportedly on course to deliver in excess of 2 million apprenticeships in the lifetime of this parliament.

If this continues, the national economy could gain £50 billion by 2025 and £101 billion by 2050.

Minister of State for Skills Nick Boles said: “Today’s celebration of a hundred years of apprenticeships demonstrates how they have long played a key role in the workforce and commemorates the contribution apprentices have made to employers and the nation.

“Today apprenticeships are at the heart of the Government’s drive to equip people with the skills that employers need to grow and compete.”

Employers who have been delivering apprenticeships for 100 years attended an event yesterday on board HMS St Albans along with some of their apprentices.

This included the Ministry of Defence, the largest employer of apprentices in the UK, large independent retailer the Lincolnshire Co-op, leading engineering support service provider Babcock International Group and Merseyside shipbuilder Cammell Laird.

‘Made by apprentices 1914-2014’ recognised all the employers taking part in the Centenary Apprenticeship Programme and the contribution of apprentices past and present.

This was posted in Bdaily's Members' News section by Clare Burnett .