From next month CITB attendance grants to employers will increase to £2,500 per year and achievement grants will rise to £3,500 for companies whose apprentice successfully completes their training.
The boost represents an overall funding increase from £10,250 to £14,500 for each apprentice an employer takes on – an uplift of over 30% on existing rates.
CITB has acted as construction apprenticeships are falling and forecasts show the industry needs to fill 168,500 new jobs over the next five years.
Stephen Radley, CITB Director of Strategy and Policy said: ‘We know that taking on an apprentice is a big investment for employers who have seen the cost of doing this go up significantly in recent years.
“These grant increases are designed to help employers of all sizes take on apprentices and ensure those learners complete their courses.
“CITB support isn’t just about money, but we believe that this major rise in grant funding will improve both apprenticeship starts and completions in our sector.”
Brian Berry, Chief Executive of the Federation of Master Builders said: “The increase in grant funding is good news for employers in the construction industry, particularly small construction firms.
“It will allow SME businesses to take on even more apprentices, including for specialist courses in order to meet the construction industry’s demand for highly-skilled individuals.”