The Impact of Apprenticeship Funding Cuts in Wales – November 2024
Independent research, carried out by The Centre for Economics and Business Research (Cebr), highlights the significant economic and social cost of apprenticeship funding cuts, particularly affecting the most deprived communities, and critical sectors like healthcare and construction.
The findings emphasise the need for sustained investment in apprenticeships to support economic growth and workforce development in Wales.
As a result of the circa 14% budget reduction, the report highlights:
- Nearly 6,000 fewer apprenticeship starts in Wales this year
- A £50.3 million ‘short run’ impact on the economy
- The health and social care and construction sectors are being impacted the most
- Funding cuts are disproportionately affecting the most deprived within the Welsh population