Tuesday, 16 April 2024
    06
    Oct
    Education

    $1.2 billion plan for apprentices

    The Federal Government has announced it will roll out a $1.2 billion wage subsidy scheme for trainees and apprentices, ABC News reports.

    The plan is the Government’s pitch to young people who are worried about finding a job, to older people needing to retrain and to employers who want to hire trainees and apprentices but are struggling to afford it amid the coronavirus pandemic.

    Trainees and apprentices who are put on the books from tomorrow will have half their wages paid by taxpayers for 12 months.

    Federal Treasurer Josh Frydenberg estimates this will deliver 100,000 jobs.

    The scheme will be in place for the next year and comes at a cost of $1.2 billion.

    The announcement is designed to provide reassurance in particular to school leavers — whose education has been so disrupted by the pandemic — that they will have avenues for employment when they graduate this year.

    Shadow Treasurer Jim Chalmers has told the Insiders program that Labor largely welcomes the announcement, and he holds fears about a “lost generation sacrificed to this recession”.

    It is the latest in a string of pre-budget announcements ahead of Tuesday and Mr Frydenberg says it will be on offer to all industries across the country.

    “That’s people who are working as bakers, hairdressers, those who are sparkies, those who are plumbers,” he said.

    The Government says manufacturing, construction, arts and mining sectors will all benefit.

    Employment organisations say it also creates more hiring opportunities in information technology and business administration.

    The subsidy would be paid direct to the employer when they hire a new apprentice or trainee. The money will be transferred quarterly, in arrears.

    Mr Chalmers said Labor was generally backing the concept but remained worried it would not ensure long-term support was in place for younger workers.

    FULL STORY

    Treasurer’s $1.2 billion plan in Federal Budget to help pay wages of new apprentices and trainees — here’s what it means (ABC News)

    PHOTO

    Josh Frydenberg