New funding pledge for apprentices and trainees

With the release of the new Federal budget comes good news for businesses and apprentices.
 
Off the back of the $365m extension to the Boosting Apprenticeship Commencements (BAC) wage subsidy comes the $2.4bn Australian Apprenticeships Incentive System (AAIS), starting July 1st. The AAIS will focus on priority occupations and will target occupations in current shortage. This new investment system will see benefits to both employers and apprentices via cash incentives.
 
“From 1 July 2022,  the Australian Apprenticeships Incentive System will provide broad support to the economy through wage subsidies for employers in priority occupations and hiring incentives for employers in non-priority occupations. Apprentices and trainees in priority occupations will also receive a generous direct payment of up to $5,000 over two years to assist with the cost of undertaking an apprenticehip," said Minister for Employment, Workforce, Skills, Small and Family Business Stuart Robert.
 
After real growth in apprenticeships through the pandemic, the new system targets priority occupations which may risk reducing apprenticeship commencements at a time when skills needs are significant. Information on the priority occupations can be found here. 

For further information about this news read more here.

If you would like to talk to a member of our client services team and sign up an apprentice or trainee today, please call us on 1300 363 831 or send us an email here.