Loans for investors in skills

14th January 2000 at 00:00
A NEW SYSTEM of "transfer- able" training loans is to be piloted in an effort to encourage firms to invest in skills.

Under the proposed system, employers would take out loans to train their workers, but they would only have to repay the money for employees who stayed with them. If workers switched jobs, their new employer would pick up the tab.

Speaking at the launch of the third report of the Government's Skills Task Force, Education an Employment Secretary David Blunkett said: "Employers are reluctant to invest in training as they fear trained employees will be poached by competitors."

The Skills Task Force, whose final report is due in the spring, also suggests tax credits for small firms who invest in training, training loans for individuals, agreements between employers and unions on workforce skills development and an annual audit of workplace training needs.


Subscribe to get access to the content on this page.

If you are already a Tes/ Tes Scotland subscriber please log in with your username or email address to get full access to our back issues, CPD library and membership plus page.

Not a subscriber? Find out more about our subscription offers.
Subscribe now
Existing subscriber?
Enter subscription number

Comments

The guide by your side – ensuring you are always up to date with the latest in education.

Get Tes magazine online and delivered to your door. Stay up to date with the latest research, teacher innovation and insight, plus classroom tips and techniques with a Tes magazine subscription.
With a Tes magazine subscription you get exclusive access to our CPD library. Including our New Teachers’ special for NQTS, Ed Tech, How to Get a Job, Trip Planner, Ed Biz Special and all Tes back issues.

Subscribe now