This is great news for small businesses and will hopefully encourage more of them to take on apprentices that may previously have been put off taking on an apprentice aged over 19 due to this fee.

The Treasury confirmed in a statement following the Chancellor’s Spring Statement that “From April 1st employers will see the co-investment rate they pay cut by a half from 10 per cent to 5 per cent”.

Mark Dawe, Chief Executive of the Association of Employment and Learning Providers said: “Our evidence was that employers were holding back on apprenticeship starts since the Autumn budget announcement which might explain the overall falls happening again, so we welcome the fact that this measure is being introduced.”

If you would like more information about the co-investment fee when taking on an apprentice aged over 19, get in touch with our team on 01752 218086 or click here to view our Employer Information.