Contractors to get £25m extra training cash from CITB

Grant Prior 14 years ago
Share

CITB-ConstructionSkills is pumping an extra £25m into training courses over the next three years after making a larger than expected surplus in its latest accounts.

The windfall will go into providing extra training cash for contractors as the industry plans for growth in 2012.

The CITB made more money than expected last year after demand for training grants crashed as industry workloads fell.

The CITB board agreed the extra cash after hearing the good news about the 2010 accounts.

Proposed investment over the next three years includes:

·         A cash injection of £2m in 2011/12 to the oversubscribed Management and Supervisory Development Programme

·         Funds £2m in 2011-13 to support specific training programmes for the specialist sectors not currently supported through the mainstream grant scheme

·         A further £11m of funds for the grant scheme in 2011-13 – details to be ratified by the Board in April

·         £10m in 2011-12 to support business growth and prepare the industry for the upturn. This will be aimed at supporting activities such as collaborative working through supply chains, upskilling the workforce to take advantage of the low carbon economy and pump priming investment in emerging technologies and new work practices.

The extra funding follows two difficult years at CITB-ConstructionSkills, where unprecedented demand for grants and falling levy income resulted in the organisation recording a £24.7m deficit over 24 months.

The shortfall sparked a successful cost-cutting and revenue generating plan which wiped out the deficit.

James Wates, Chairman CITB-ConstructionSkills said: “We had planned for a £5.5m surplus, in the event, better than expected commercial income, a large fall in grant claims as the industry scaled back its training activity and internal cost efficiencies, including a 20% reduction in headcount, has resulted in a £9m surplus in working capital in 2010 and a deficit recovery at the beginning of 2011 rather than the end.

“Whilst the last two years have been particularly tough for industry and CITB-ConstructionSkills, we are now in a better position to add value to industry by reinvesting this surplus.

“We know levy income will drop between 2011 and 2013 – just as the demand for grant will increase as the industry moves out of recession.

“Our projections, based on current analysis, show that demand for Employer Funds will outstrip levy in both 2012 and 2013 so we need to start taking a longer term view and ensure that some of the 2010 surplus can be made available further down the line to support employers when they will really need it.

“The good news is that we are now in a strong position to help employers at a time when they will need our support the most.”

Latest news

Balfour Beatty terminates Danny Sullivan labour deals

Around 500 workers on HS2 will be moved to alternative agencies or be taken on direct
21 hours ago

Trio face prosecution after Hinkley site death

Main contractors and client to face charges over death of site supervisor
21 hours ago

Buyers see recovery in house building sector

But civil and commercial work still in the doldrums
1 day ago

Apprentice saws-off thumb on hotel refurb site

Court hears how digit was reattached and teenager continued training with another firm
1 day ago

Laing O’Rourke tops June contracts league

£919m animal super lab dominates new orders
2 days ago

TSL turnover smashes £500m as profit almost trebles

Data centre and logistics contractor rises high on surging demand
2 days ago

Gleeson Homes chief exec leaves business after restructure

Management revamp after "challenging" year
2 days ago

Green light for 1,600-home Oldham town centre overhaul

Plans for over 1,600 homes across six regeneration sites approved
2 days ago

DSM wins Norwich city centre clearance job

Anglia Square shopping centre clearance for £300m scheme
2 days ago

13-year-old becomes UK’s youngest qualified digger driver

Grandson of Gallagher Group chairman sets industry record
2 days ago

Cubby reborn in £12m Svella-backed takeover

£50m revenue target set as 14 firms combine under new Cubby Group banner
3 days ago

North East NHS trusts plot £3bn health estate overhaul

Market engagement begins for major construction push across four trusts
3 days ago

HG goes green on cranes in £1.2m switch to battery power

Diesel-free crane drive cuts fuel bills by 94%
3 days ago

Developer fined £165,000 for fire safety failings

Firm ignored fire safety orders on apartment job in Preston
3 days ago

Bidding to start for £1.8bn North West framework

Contractors invited to bid for latest Procure Partnerships deal
3 days ago

Hill hits record £90m profit as homes pipeline swells

Build-to-rent push and £4.8bn contracting book to fuel next growth phase
3 days ago

Rayner unveils £39bn plan to build 300,000 social homes

Council building revival and rent reform feature in social and affordable homes plan
4 days ago

Keltbray bounces back with £3.2m profit

Tighter controls and smarter project selection fuel strong turnaround
4 days ago

VINCI JV wins 500-home twin town centre revamps

Chester Northgate phase 2 and Northwich Weaver Square schemes move to delivery stage
4 days ago

80 energy projects unlocked as Ofgem backs grid expansion

£24bn energy networks deal gets green light from regulator
5 days ago

How to see your stories on the Enquirer

Join our Suppliers and Buyers directory to get your news published
4 days ago

Henley lands Midland Mill revamp on Leeds tower scheme

Restoration of 18th-century mill kicks off on South Bank regeneration project
4 days ago

New boss at Eric Wright Civil Engineering

Gavin Hulme takes top job as Diane Bourne moves to group role
4 days ago

Pinewood submits £1bn data centre plan

Studio giant adds green and learning spaces to tech hub blueprint
5 days ago

Record results after TClarke goes private

Britain's biggest M&E contractor flourishes after de-listing
5 days ago

Dalkia lands £200m nuclear maintenance deal

1,000 nuclear FM staff to join M&E contractor
5 days ago

Construction comeback to outpace wider economy

Arcadis forecast fueled by spending review optimism
5 days ago

First steel goes up on giant car battery site

Severfield gets to work on McAlpine Somerset site
5 days ago

Permasteelisa wins cladding deal on Bovis city tower

Facade specialist lands package at 60 Gracechurch Street
5 days ago

Fox buys recycled asphalt specialist Fisher

Acquisition adds major recycled asphalt capacity in north west
5 days ago