VERTO CEO Ron Maxwell has today welcomed the Australian Government’s announcement of $1.2 billion in funding to hire tens of thousands of extra apprentices and trainees across the country in the next 12 months.
Australian Prime Minister Scott Morrison announced an uncapped increase in the Boosting Apprenticeship Commencements (BAC) funding this morning, estimating it would employ at least a further 70,000 apprentices across the country up until March 2022.
“This funding will play a significant role in combatting any potential youth employment crisis caused by the COVID-19 pandemic,” Mr Maxwell said.
“Since the initial BAC funding was announced in October, 100,000 apprenticeships have already been filled across Australia, including 30,000 in NSW. At VERTO, since October 2020, we have seen an increase of more than 203% in apprenticeship sign-ups compared to the same period the year prior.
“These apprentices, and any new apprentices employed as part of the BAC funding increase, will play a significant long-term role in not only helping local regions recover from the COVID-19 pandemic but also in helping to address the significant skill shortages being felt across the country.
“VERTO has seen firsthand the benefit this BAC wage subsidy has had and will continue to have in NSW, and we’re very proud to be playing an important role in helping the country recover from the COVID-19 recession.”
As part of the BAC funding, employers are eligible to access up to 50 per cent of an apprentice or trainee’s wages for the first year, capped at $7,000 per quarter. New apprentices and trainees have until 30 September 2021 to sign up for the scheme.
For further information or help accessing BAC funding, contact VERTO on 1300 483 786 or visit www.verto.org.au.