Spring statement: What you need to know

Chancellor Philip Hammond has promised a focus on skills in yesterday's Spring Statement, with £50million available to help employers prepare for the rollout of T-Level work placements.

Additionally, the Education Secretary will release up to £80million of funding to support those small businesses in engaging an apprentice, and the government will be launching a consultation on improving the way the tax system supports self-funded training by employees and the self-employed.

“As our economy changes, we must ensure people have the skills they need to seize the opportunities ahead,” Hammond said.

Samantha Hurley, Director of Operations at the Association of Professional Staffing Companies (APSCo), said she was pleased by the statement’s focus on skills. “We welcome the publication of a consultation on how the tax system supports self-funded, work-related training and the explicit recognition that a skilled workforce benefits both individuals and the wider UK economy,” she said.