In the Autumn Budget the Chancellor announced investment in skills to support the development of the UK’s Workforce of the Future. He noted that rapid technological change means people may need to retrain during their working life.
The National Retraining Scheme will start small in cash terms. However, with an additional £406m invested in maths and technical education, and a commitment to work with employers on how to spend the Apprenticeship Levy, the Government’s intentions are clear.
Investing in skills is key to unlocking growth and productivity in the UK. He also announced welcome changes to immigration rules including enabling world-leading scientists and researchers with exceptional talent to settle more quickly in the UK.
Employers should review their skills development and talent strategies to ensure they’re planning ahead for the skills their business will need in the future.
Employers will also welcome the Government’s moves towards bringing greater certainty to employment status, following Matthew Taylor’s review of modern working practices. More to come on this.
Many of the Chancellor’s announcements to employers highlight the rapidly changing nature of the workplace and the importance of building a workforce for the future.