With the budget only a few hours away, the government is expected to announce a substantial financial package for trades, allowing hundreds of thousands of Australians to train for skilled jobs in several industries.
In a pre-budget announcement, treasurer Josh Frydenberg already stated that the budget would support Australia’s future tradies, plumbers, tilers, and chefs with a $365.3 million investment to assist an additional 35,000 apprentices and trainees in finding work.
The move is likely to address workforce issues, increase employment rates, and boost the hospitality and construction sectors after two years of massive staff shortages due to closed borders.
Prime Minister Scott Morrison announced the expansion of the programme Boosting Apprenticeship Commencements and Completing Apprenticeship Commencements. He stated that the program’s extension would add to the record number of Australians currently enrolled in trades training.
“By backing 385,000 apprentices in their training, we’re boosting the pipeline of workers Australia will need for a stronger economy and a stronger future,” the Prime Minister said.
Employers who hire a new apprentice or trainee before the end of the fiscal year 2021-22 (June 2022) will receive a 12-month wage subsidy under the programme extension. Businesses that enrol in the programme before the fiscal year-end will be eligible for the scheme’s extended government support in the second and third years of an apprenticeship.
The Prime Minister also stated that the programmes guarantee businesses, allowing them to hire another apprentice chef, apprentice hairdresser, or apprentice plumber.
“Right now, there are more than 350,000 apprentices and trainees in training, and a record 220,000 of these are trade apprentices, and these investments are about making those numbers go even higher,” he said.
Through the Boosting Apprenticeship Commencements subsidy, over 73,000 businesses have received assistance in hiring an apprentice or trainee as of March 24, 2022, as per government data.
Any employer who takes on an apprentice or trainee up until June 30 2022, can gain access to:
1. 50 per cent of the eligible Australian Apprentice’s wages in the first year, capped at a maximum payment value of $7,000 per quarter per Australian Apprentice,
2. 10 per cent of the eligible Australian Apprentice’s wages in the second year, capped at a maximum payment value of $1,500 per quarter per Australian Apprentice, and
3. 5 per cent of the eligible Australian Apprentice’s wages in the third year, capped at a maximum payment value of $750 per quarter per Australian Apprentice.
The Treasurer said this continued strong support for the skills sector would help lock in Australia’s economic recovery by delivering opportunities for apprentices and certainty for businesses. “The 2022-23 Budget will outline the Government’s long term economic plan to create more jobs,” the Treasurer said.
Stuart Robert, Minister for Employment, Workforce, Skills, Small and Family Business, said the government was investing a record $7.8 billion in the skills sector this fiscal year alone, helping to secure the futures of tens of thousands of skilled workers.
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This post was aggregated from Dynamic Business (https://dynamicbusiness.com).