The Federal Government’s proposed $1.2 billion wage subsidy scheme for apprentices and trainees will have a significant positive impact across the country, VERTO CEO Ron Maxwell believes.
Mr Maxwell hailed the funding, expected to be announced in tonight’s Federal budget, as a ‘much needed investment in Australia’s long-term future’.
“Unfortunately thousands of apprentices, trainees and employees have been severely impacted by the COVID-19 pandemic since February this year, but this $1.2 billion investment for 100,000 apprentices and trainees is outstanding news,” he said.
“Not only will the funding give more people in regional areas exciting, real-life employment and training opportunities, it will be a huge boost for local businesses that may have had to reduce staff or decrease output because of necessary COVID-19 cost-cutting measures.
“This $1.2 billion investment will significantly help combat the current national skills shortage and be a massive injection for the Australian and local regional economies.”
Mr Maxwell said the funding announcement would help not only young people who are worried about finding a job after completing their HSC, but also older people needing to retrain, and employers who want to hire trainees and apprentices but are struggling to afford it amid the COVID-19 pandemic.
“Under this new subsidy scheme, employers will be eligible for 50 per cent of the wages for a new or recommencing apprentice or trainee for the period up to 30 September 2021, up to $7000 per quarter,” Mr Maxwell said.
“There are more than 500 different apprenticeship or traineeship fields to choose from and this new wage subsidy should give businesses certainty to hire and provide an exciting career path to aspiring young apprentices and trainees.”
For more information about becoming or hiring an apprentice or trainee, phone 1300 4 VERTO.