The Australian Government continues to secure the country’s economic recovery by expanding the support that helps apprentices finish their training and further protecting the skills pipeline delivered under the Australian Government’s successful Boosting Apprenticeship Commencements program.
The $3.9 billion Boosting Apprenticeship Commencements program will extend support into the second and third years of an eligible Australian Apprenticeship via the $716 million Completing Apprenticeship Commencements program.
The extended support will see eligible employers will receive a 10 per cent wage subsidy in the second year of an eligible apprenticeship, and five per cent in the third year.
The changes are said to occur starting October 2021.
The Australian Government’s added investment is expected to continue the support the 270,000 anticipated commencements under the Boosting Apprenticeship Commencements program from October 2020 to March 2022.
Minister for Employment, Workforce, Skills, Small and Family Business Stuart Robert revealed that the new Completing Apprenticeship Commencements program will help maintain a pipeline of skilled workers right across the economy.
The program has already helped 348,200 apprentices with their training as at June 2021, 30 per cent more than the previous 12 months.
“While other countries shed their apprentice workforces, our highly successful Boosting Apprenticeship Commencement program saw new apprenticeships increase 141.5 per cent year on year,” Minister Robert said.
By protecting the pipeline of apprentices for a skilled future workforce through the Completing Apprenticeship Commencements program, the Australian Government is giving employers the confidence to retain an apprentice in their second and third years of training all the way to completion.
“Securing the skilled workforce of tomorrow through the Completing Apprenticeship Commencements program is in addition to a record $6.4 billion investment in skills this financial year,” Minister Robert said.
“This includes a $500 million expansion of the JobTrainer Fund, which recently hit more than 230,000 course enrolments.”
Source: Department of Education, Skills and Employment Media Release