Co-op has today (21 November) announced a £70m commitment through its Levy Share service to create 7,000 matched apprenticeships by 2030, boosting skills and social mobility nationwide.
This comes as apprenticeships have dropped 31% since the Government introduced the apprentice levy in 2017, leaving nearly one million young people out of education, work or training, it explains.
Apprenticeships now add £25bn to England’s economy, making Co-op’s commitment more vital than ever. Co-op’s Levy Share has already raised £40m and is making a real difference for underrepresented groups, with 31% of apprentices identifying as non-white British, 67% as female and 16% declaring a disability.
First launched in 2021, Co-op’s Levy Share enables levy paying employers to transfer unused apprenticeship levy funds to businesses, charities and community organisations, breaking down barriers to work and progression for those who need it most.
In just four years, the scheme has matched over 3,800 apprenticeships, with two-thirds in the most deprived communities and a third in the care sector.
To truly understand and address barriers to opportunity, Co-op is also calling on Skills England to start collecting Socio-Economic Background (SEB) data for apprenticeships. This would allow policymakers, employers, and educators to see who is, and isn’t getting access to apprenticeships, and to target support where it’s needed most.
Claire Costello (left), chief people and inclusion officer at Co-op, said: “We launched Co-op Levy Share to unlock unused levy funds and turn waste into opportunity. Four years on, alongside our contributing partners, we’ve already channelled £40m into thousands of lifechanging apprenticeships, and today we’re going further, committing £70m to create 7,000 apprenticeships by 2030.”
The Apprenticeship Levy requires large employers to contribute to a fund supporting apprenticeship training. Unspent funds expire after 24 months and are returned to HM Treasury. Co-op Levy Share enables employers to transfer up to 50% of their annual levy to other organisations, covering training and assessment costs for apprenticeships and supporting growth across sectors.
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